A person invests Rs. 12000 as fixed deposit at a bank at the rate of 10% per annum simple interest. But due to some pressing needs he has to withdraw the entire money after three years, for which the bank allowed him a lower rate of interest. If he gets Rs. 3320 less than what he would have got at the end of 5 years, the rate of interest allowed by the bank is = ?

• A. 759759 %75975975975975975977759595599759
• B. 749749 %74974974974974974977749494499749
• C. 789789 %78978978978978978977789898899789
• D. 879879 %87987987987987987988879797799879