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A Man Took a Loan from a Bank at the Rate of 12% per Annum Simple Interest. After 3 Yr, He Had to Pay ₹5400 for the Whole Period. the Principal Borrowed by Him Was - Mathematics

MCQ

A man took a loan from a bank at the rate of 12% per annum simple interest. After 3 years, he had to pay ₹5400 for the whole period. The principal borrowed by him was

Options

  • ₹2000

  • ₹10000

  • ₹15000

  • ₹20000

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Solution

₹15000
Explanation:

Principal = ₹`((100xx5400)/(12xx3))` = ₹15000

Concept: Simple and Compound Interest
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