A man took loan from a bank at the rate of 12% p.a. simple interest. After 3 years he had to pay Rs. 1800 interest only for the period. The principal amount borrowed by him was: Select:
A) s. 2,500
B) s. 1,000
C) s. 15,000
D) s. 5,000
E) s. 2,000
Principal = Rs. (100 x 1800)/(12X3) = Rs. 5000. Answer: Option s. 5,000
<result>D</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. 1800 interest only for the period. The principal amount borrowed by him was: