A man took a 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 :

A. Rs. 2000
B. Rs. 10,000
C. Rs. 15,000
D. Rs. 20,000

principal = Rs. ( ^{100 X 5400}/_{12 X 3} ) = Rs. 15000