Rajesh took a loan at 9% per annum simple interest and invested in a project where he got a return of 13%. At the end of 5 years, he made a profit of Rs. 15,000. What was the original amount that he had borrowed?
A
60,000
B
75,000
C
90,000
D
80,000
Correct Option:
B
Explanation
Rajesh borrows at 9% and earns 13%, giving a net gain of 4% per year. Over five years, the gain is 4%×5=20% of the principal. If 20% equals ₹15,000, then