Ramya took a loan of Rs. 1400 with simple interest for as many years as the rate of interest. If she paid Rs.686 as interest at the end of the loan period, Find the rate of the interest?
Choose the correct choice from the following answers:
A) 5%
B) 6%
C) 4%
D) 3%
E) 7%
SI = 686   P = 1400   ==&gt;1400*R*R/100   686=14R^2   R^2 = 49   R = 7   ANSW7%R 7%
<result>E</result>
Ramya took a loan of Rs. 1400 with simple interest for as many years as the rate of interest. If she paid Rs.686 as interest at the end of the loan period, Find the rate of the interest?