railway DMRC CRA Mock Test Series Quantitative Aptitude Interest Simple Interest

Raghu took a loan form a bank at the rate of 18% per annum at simple interest. After 4 years he had to pay Rs.12,240 as interest. What is the amount borrowed by Raghu?

1
Rs.18,000
2
Rs.15,000
3
Rs.16,000
4
Rs.17,000
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