Sumit lent Rs. 5000 to Ram for 2 years and Rs. 8000 to Mayur for 3 years on simple interest at the same rate of interest and received Rs. 1700 in total from both of them as interest. What is the rate of the interest per annum?

A

8% per annum

B

4% per annum

C

5% per annum

D

10% per annum