Simple interest on a sum of Rs 3300 for 5 years is Rs 1980. What is the annual rate (in percentage) of interest?

Options

A. 10
B. 15
C. 12
D. 9

Explanation

To find the annual rate of interest (R) for a sum of Rs 3300 over 5 years with a simple interest of Rs 1980, we can use the formula for simple interest:

\[ \text{Simple Interest (SI)} = \frac{P \times R \times T}{100} \]

Where:
- \( P \) = Principal amount (initial sum of money)
...