Discussion :: Simple Interest
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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:
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Answer : Option C
Explanation :
| Principal = Rs.\([\frac { 100*5400 } { 12*3 } ]\) | = Rs. 15000. | |||
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