Question

10.
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:
A. Rs. 2000
B. Rs. 10,000
C. Rs. 15,000
D. Rs. 20,000

Answer 1

Principal amount = S.I. × 100 /R × T
= 5400×100/12×3
= 540000/36
= 15000= Rs 15000

Answer 2

C part 15000 is the right answer.

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