Reena took a loan of 1000 with simple interest for as many years as the rate of interest. If she paid 40 as interest at the end of the loan period, what was the rate of interest?
Select:
A) 3.8
B) 2
C) 6
D) Cannot be determined
E) None
Explanation: Let rate = R% and time = R years.   Then, (1000 x R x R)/100 = 40   10RÂ² = 40   RÂ² = 4   R = 2.   Answer: Option 2
<result>B</result>
Reena took a loan of 1000 with simple interest for as many years as the rate of interest. If she paid 40 as interest at the end of the loan period, what was the rate of interest?