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    Question

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

    interest. After 5 years he had to pay Rs.7200 interest only for the period. The principal amount borrowed by him was:
    A 15000 Correct Answer Incorrect Answer
    B 12000 Correct Answer Incorrect Answer
    C 10000 Correct Answer Incorrect Answer
    D 14000 Correct Answer Incorrect Answer
    E None of these Correct Answer Incorrect Answer

    Solution

    Principal = Rs. [(100×7200)/(12× 5)] = Rs. 12000

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