A man took loan from a bank at the rate of 12% p.a. simple interest. After 3 years he had to pay Rs. 4320 interest only for the period. The principal amount borrowed by him was:
Choose the correct choice from the following answers.
A) s. 12,000
B) s. 10,000
C) s. 15,000
D) s. 18,000
E) s. 20,000
Principal = Rs. (100 x 4320)/(12X3) = Rs. 12000. s. 12,000nswer: Option s. 12,000
<result>A</result>
A man took loan from a bank at the rate of 12% p.a. simple interest. After 3 years he had to pay Rs. 4320 interest only for the period. The principal amount borrowed by him was: