Question

Q. A man took a loan from a bank at the rate of 12% pa 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 10000
• C. Rs 15000
• D. Rs 20000

Answer 1

The correct option is C Rs 15000

$5400=P\times \frac{12}{100}\times 3P=\frac{540000}{12\times 3}P=15000$