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

A man took a loan from a bank at the rate of 12% per annum at simple interest. After 3 years he had to pay Rs. 5400 as interest only for the period. The principle amount borrowed by him was:
[A]2000
[B]10000
[C]15000
[D]20000

15000
Let the principal be x.
S.I.= \frac{Principal\times Rate\times Time }{100}
=>5400=\frac{x\times 12\times 13}{100}
=>x=\frac{5400\times 100}{12\times 3}
=>x=Rs. 15000
Hence option [C] is the right answer.

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