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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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