Question

If Meena gives an interest of ₹ 45 for one year at 9 % rate p.a what is the sum she has borrowed? What is the net amount she pays at the end of one year?
[4 MARKS]

Answer 1

Formula: 1 Mark
Steps: 2 Marks
Answer: 1 Mark

Given,
Meena pays an interest of ₹ 45 for one year.
The rate of interest is 9 %

Interest = ₹ 45

Time = 1 year

Rate of interest = 9%

Let the principal be P

We know that,

$S.I=\frac{P\times R\times T}{100}$

$45=\frac{P\times 9\times 1}{100}$

$\Rightarrow P=\frac{45\times 100}{9}$

$\therefore P=$ ₹ 500

The sum she borrowed is ₹ 500.
The net amount she will pay at the end of one year = 500 + 45 = ₹ 545.