A sum of Rs.Â 1200 is lent to be paid back in 5 equal annual installments of Rs.Â 264 each. The rate of interest per annum is

A sum of Rs.Â 1200 is lent to be paid back in 5 equal annual install

1.	A sum of Rs.Â 1200 is lent to be paid back in 5 equal annual installments of Rs.Â 264 each. The rate of interest per annum is
A.	0.06
B.	0.08
C.	0.02
D.	0.04
Answer» D. 0.04