Correct Answer: Option C

Explanation

Interest I = \(\frac{PRT}{100}\)

∴ R = \(\frac{100 \times 1}{100 \times 5}\)

= \(\frac{100 \times 7.50}{500 \times 5}\)

= \(\frac{750}{500}\)

= \(\frac{3}{2}\)

= 1.5%

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