Mathematics
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Medium
Question
A bank loan at 12% p.a. simple interest produced Rs 5400 interest in 3 years. What was the principal?
A
Rs. 2000
B
Rs. 10,000
C
Rs. 15,000
✓ Official correct answer
D
Rs. 20,000
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A
Rs. 2000
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B
Rs. 10,000
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C
Rs. 15,000
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D
Rs. 20,000
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Explanation
P = (5400 × 100)/(12 × 3) = Rs 15,000.