If the simple interest on a certain sum of money after 3 1⁄8 years is 1⁄4 of the principal, what is the rate of interest per annum?
A. 6%
B. 4%
C. 8%
D. 12%
If the simple interest on a certain sum of money after 3 1⁄8 years is 1⁄4 of the principal, what is the rate of interest per annum?