Correct Answer - Option 3 : Rs. 24,000

**Given: **

Difference b/w CI – SI = Rs 1701,

Amount lent out on CI for 3 years at 15% per annum.

**Formula used:**

CI = P [1+(R/100)]^{n} - P

**Calculation:**

Let the principal be 8000P

So, CI for 3 years = [8000P × (1+ 15/100)^{3} - 8000 P]

⇒ CI for 3 years = 4167P

SI for 3 years = 8000P × 15 × 3/100

⇒ SI for 3 years

Difference = 4167P - 3600P = 567P

ATQ, 567P = 1701

⇒ P = 3

So, Principal = 8000P

⇒ 8000 × 3 = 24000

**∴ The principal is Rs. 24,000**