Multiple choice

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

  1. Rs 2000

  2. Rs 10000

  3. Rs 15000

  4. Rs 20000
Reveal answer Fill a bubble to check yourself
C Correct answer
Explanation

Principal = Rs ( 100 ´ 5400 ) / 12 ´ 3 = 15000

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