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Discussion :: Simple Interest

  1. 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:

    2. A.

    Rs. 2000
    B.

    Rs. 10,000
    C.

    Rs. 15,000
    D.
    Rs. 20,000

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    Answer : Option C

    Explanation :

    Principal = Rs.[100∗540012∗3]       = Rs. 15000.
     

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