A man took a loan from a bank at the rate of 12% per annum at simple interest. After 3 years he had to pay 5,400 as interest only for the period. The principal amount borrowed by him was?

• A. 5,000
• B. 10,000
• C. 15,000
• D. 20,000

• 15,000

Please select one of the options to reveal the correct answer.