X took a loan of ₹5000 on simple interest, the rate of interest being the same as the number of years for which the loan was taken. If the interest paid was ₹1800, then what was the rate of interest?

6%

Simple Interest = \(\frac{Principal × Rate × Time }{100}\)

Rate = Time

1800 = \(\frac{5000 × Rate  × Rate }{100}\) 

( Rate )² = \(\frac{180000 }{5000}\) 

( Rate )² = 36

Rate = 6

So , The rate of interest is 6%.