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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 5,400 as interest only for the period. The principal amount borrowed by him was :
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- 2,000
- 10,000
- 20,000
- 15,000
- 2,000
Correct Option: D
Let the principal be P.
Here , SI = ₹ 5400 , Rate = 12% , Time = 3 years
As we know that ,
| SI = | |
| 100 |
| ⇒ 5400 = | |
| 100 |
| P = | = ₹ 15000 | |
| 12 × 3 |
