1.  A man took loan from a bank at the rate of 12% p.a. simple interest. After 3 years he had to pay ₹ 5400 interest only for the period. The principal amount borrowed by him was:
A. ₹ 2000
B. ₹ 10,000
C. ₹ 15,000
D. ₹ 20,000

Answer: Option C

Explanation:

Principal
= ₹ 100 x 5400
12 x 3
= ₹ 540000
36
= ₹ 15000.