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Sami invested a certain sum of money in a simple interest bond whose value grew to Tk300 at the end of 3 years and to Tk. 400 at the end of another 5 years. What was the rate of interest in which he invested his sum?

A. 12%

B. 12.5%

C. 6.6%

D. 8.33%

E. None

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সঠিক উত্তরঃ D. 8.33%

Explanation:

In 5 years, the value went from 300 to 400, a total of $100. This is 20 per year. In the 3 years early, the investment added (3 x 20) = 60 dollars, so it started with 300- 60=240.

20/240 = 1/12 = 8.33%