Question

If Meena gives an interest of $₹45$ for one year at $9\%$ rate p.a. What is the sum she has borrowed?

Answer 1

Solve for principle amount

From the given detail we have,

Simple Interest $S.I.=₹45$

Rate $R=9\%$

Time $T=1year$

Let $P$ is the amount she has borrowed

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

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

$P=\frac{(45\times 100)}{9}$

$$\begin{gathered} =5\times 100 \\ =500 \end{gathered}$$

Hence she borrowed $₹500.$