A sum of Rs. 1250 amounts to Rs. 1550 in 4 years. What is the simple interest rate?

Correct option is B

Principal = Rs.1250 Amount Rs. 1550 Simple interest =1550-1250=Rs.300 Time 4 years, Rate (R) ?
According to the question –
SI=(P×R×T)/100
Rate =(300×100)/(1250×4)
Rate =6%