Reena took a loan of $. 1200 with simple interest for as many years as the rate of interest. If she paid $ 588 as interest at the end of the loan period, what was the rate of interest?	Pick one:
A) 3.6
B) 7
C) 18
D) can not be determined
E) none of these

Rationale: "let rate = r % and time = r years . then , 1200 x r x r / 100 = 588 12 r 2 = 588 r 2 = 49 r = 7 . answer : b"
Answer: B