A person lent Rs. 12,000 to B for 3 years and Rs. 10,000 to C for 4 years on simple interest at the same rate of interest and received Rs. 6,080 in all from both of them as interest. What is the annual rate of interest?
1
5 percent
2
15 percent
3
8 percent
4
11 percent
5
None of the above