A man took loan from a bank at the rate of 12% p.a. simple interest. After 3 years he had to pay Dollar 5400 interest only for the period. The principal amount borrowed by him was:

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

1.	A man took loan from a bank at the rate of 12% p.a. simple interest. After 3 years he had to pay Dollar 5400 interest only for the period. The principal amount borrowed by him was:
A.	Dollar 2000
B.	Dollar 10,000
C.	Dollar 15,000
D.	Dollar 20,000
Answer» D. Dollar 20,000

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A man took loan from a bank at the rate of 12% p.a. simple interest. After 3 years he had to pay Dollar 5400 interest only for the period. The principal amount borrowed by him was:

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