Find the principle on a certain sum of money at 5% per annum for 2 2/5 years if the amount being Rs.1232?	Select the correct option:
A) 1000	B) 2217	C) 1100	D) 2777	E) 2991

Rationale: "1232 = p [ 1 + ( 5 * 12 / 5 ) / 100 ] p = 1100 answer : c"
Answer: C