John took a loan of Rs. 1500 with simple interest for as many years as the rate of interest. If he paid Rs. 540 as interest at the end of loan period, what was the rate of interest?
Choose one.
A) 2 %	B) 3 %	C) 4 %	D) 6 %	E) None of these
Explanation:   Simple interest is same as the rate of interest.   Hence,   Rate of interest = R% and Time = R years   Simple Interest =	(P × R × T)/100   60 =	(1500 × R2)/100   15R2 = 540   R2 = 36   R=6 %   Rate of Interest = 6 %   ANSWER IS 6 %
<result>D</result>
John took a loan of Rs. 1500 with simple interest for as many years as the rate of interest. If he paid Rs. 540 as interest at the end of loan period, what was the rate of interest?