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:
(A) 15000
(B) 2655
(C) 16888
(D) 6677
(E) 1871 Stream of consciousness first, then make a decision:
Principal = Rs. (100 x 5400)/(12*3) = Rs. 15000.
Thus, the answer is (A).