Management is considering a INR. $1,00,000$ investment in a project with a $5$ year life and no residual value $.$ If the total income from the project is expected to be INR. $60,000$ and recognition is given to the effect of straight line depreciation on the investment, the average rate of return is :

a$.$

$12\%$

b$.$

$24\%$

c$.$

$60\%$

d$.$

$75\%$