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.
Hence option [C] is the right answer.
