A man took loan from a bank at the rate of 12% p.a. simple interest. After 3 years he had to pay Rs. 5400 interest only for the period. The principal amount borrowed by him was:

1.

A man took loan from a bank at the rate of 12% p.a. simple interest. After 3 years he had to pay Rs. 5400 interest only for the period. The principal amount borrowed by him was:

[A].	Rs. 2000
[B].	Rs. 10,000
[C].	Rs. 15,000
[D].	Rs. 20,000

Answer: Option C

Explanation:

Principal = Rs.		100 x 5400		= Rs. 15000.
		12 x 3

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