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Simple Interest - General Aptitude

Q1:

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:

A Rs. 2000

B Rs. 10,000

C Rs. 15,000

D Rs. 20,000

ANS:C - Rs. 15,000

Principal = Rs. 100 x 5400 = Rs. 15000.
12 x 3