A person deposited 400 for 2 years, 550 for 4 years and 1,200 for 6 years. He received the total simple interest of 1,020. The rate of interest per annum is

A person deposited 400 for 2 years, 550 for 4 years and 1,200 for 6

1.	A person deposited 400 for 2 years, 550 for 4 years and 1,200 for 6 years. He received the total simple interest of 1,020. The rate of interest per annum is
A.	10%
B.	5%
C.	15%
D.	20%
Answer» B. 5%

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A person deposited 400 for 2 years, 550 for 4 years and 1,200 for 6 years. He received the total simple interest of 1,020. The rate of interest per annum is

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