A man needs money for 120 days. He asked the banker for a loan and the banker charged Tk. 360 @ 6% per annum. What is the amount of loan?
A
Tk. 15000
B
Tk. 16000
C
Tk. 18000
D
None of these
Correct Answer: Tk. 18000
Pnr = 360P × (120/360) × (6/100) = 360P × 2 = 360 × 100P = 180 × 100P = 18000