If the simple interest on a sum of money for 2 years is Rs. 40 and the compound interest on the same sum at the same rate for 2 years is Rs. 41, find the rate of interest.

Options:

• A: 4%
• B: 5%
• C: 8%
• D: 10%

Related Practice Questions:

• Which of the following artifacts, extensively found at Burzahom and Gufkral, specifically indicates that the Neolithic inhabitants of Kashmir practiced sewing animal skins for clothing to survive the harsh winters?
• The earliest known evidence of rock art in India, in the form of 'Cupules' (hemispherical cup-shaped depressions carved into rock), belongs to the Lower Paleolithic age and was found at:
• The first human colonization of the fertile Ganga plains, as evidenced by archaeological discoveries at Sarai Nahar Rai and Mahadaha, took place during which period?
• Which prehistoric site located in the Thar Desert of Rajasthan provides a continuous and undisturbed profile of Lower, Middle, and Upper Paleolithic cultures?