One-fourth of an amount was loaned at simple interest with 2% rate of interest and the remaining part was lent on simple interest at 3% rate of interest What is the average rate of interest for the whole amount ?

A

$$2\frac{1}{4}\%$$

B

$$2\frac{3}{4}\%$$

C

$$1\frac{1}{4}\%$$

D

$$4\%$$