A sum of money becomes \( \frac{8}{7} \) of itself in 2 years at a certain rate of simple interest. The rate per annum is:

1
\(6 \frac{3}{7} \% \)
2
\(8 \frac{1}{7} \% \)
3
\( 7 \frac{1}{7} \% \)
4
\(7 \frac{3}{7} \%\)

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