James invested a certain sum of money in a simple interest bond whose value grew to $700 at the end of 3 years and to $ 800 at the end of another 2 years. What was the rate of interest in which he invested his sum?  Choose the correct choice from the following:
A) 9.09%	B) 12.5%	C) 6.67%	D) 6.25%	E) 8.33%
Lets assume the Principal Amount (initial amount invested) to be P   rate of interest to beRand time as T. We need to find R   Now After a time of 3years the principal P amounts to $700 and after a time of 5years ( question says after another 2years so 3+2) P becomes $800.   Formulating the above data   9.09%mount (9.09%1) at end of 3years   9.09%1= P(1 + 3R/100) = 700   9.09%mount (9.09%2) at end of 5years   9.09%2 = P(1 + 5R/100) = 800   Dividing 9.09%2 by 9.09%1 we get   (1 + 5R/100)/(1 + 3R/100) = 8/7   after cross multiplication we are left with 11R =100 which gives R = 9.09%   Option: 9.09%
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James invested a certain sum of money in a simple interest bond whose value grew to $700 at the end of 3 years and to $ 800 at the end of another 2 years. What was the rate of interest in which he invested his sum?