Shubham took a loan of Rs. 250000 with simple interest for as many years as the rate of interest. If he paid Rs. 10000 as interest at the end of the loan period, what was the rate of interest for him?

Shubham took a loan of Rs. 250000 with simple interest for as many years as the rate of interest. If he paid Rs. 10000 as interest at the end of the loan period, what was the rate of interest for him?
1). 4.7%
2). 3.5%
3). 3%
4). 5%

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