A man took loan from a bank at the rate of 12% p.a. simple interest. After 3 yea

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Question: 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:

options are:

A.     Rs. 2000
B.     Rs. 10,000
C.     Rs. 15,000
D.     Rs. 20,000

Correct answer is:

B.     Rs. 10,000