A person made a fixed deposit of Rs. 30,000 in a bank for 5 years at 10% simple interest per annum. He had to withdraw the whole amount after 3 years to meet the expenses of his daughter s marriage and he received Rs. 7800 less than what he would have got after 5 years. What is the rate of simple interest per annum paid by the bank for this premature encashment ?

• A. 6%
• B. 7%
• C. 8%
• D. 9% 5. In