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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:
Answer & Solution
Correct Answer:
Option
C
$$\eqalign{
& {\text{Principal}} = Rs.\,\left( {\frac{{100 \times 5400}}{{12 \times 3}}} \right) \cr
& \,\,\,\,\,\,\,\,\,\,\,\,\,\,\,\,\,\,\,\,\,\,\,\,\,\, = Rs.\,15000 \cr} $$
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