Karan took a loan from a bank at the rate of 12% p.a. simple interest. After a period of 3 years, he had to pay Rs. 5400 as interest. What was the principal amount borrowed by him?

Rs. 25000

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Rs. 10000

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Rs. 12500

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Rs. 15000

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Solution

The correct option is D
Rs. 15000

Principal = Rs. $\frac{100 \times 5400}{12 \times 3}$ = Rs. 15000

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Karan took a loan from a bank at the rate of 12% p.a. simple interest. After a period of 3 years, he had to pay Rs. 5400 as interest. What was the principal amount borrowed by him?

The correct option is D Rs. 15000 Principal = Rs. 100×540012×3 = Rs. 15000

The correct option is D
Rs. 15000

Principal = Rs. $\frac{100 \times 5400}{12 \times 3}$ = Rs. 15000