The difference between compound interest and simple interest at the same rate of interest $\text{R}$ percent per annum on an amount of $\text{Rs. 7500}$ for $2$ years is $\text{Rs. 48.}$ What is the value of $\text{R}$ ?
- $8 \%$
- $9 \%$
- $10 \%$
- insufficient data to determine