Question

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

Answer 1

Simple Interest $=Rs.45$, Rate $\left(R\right)=9$%, Times $\left(T\right)=1$ years
Simplet Interest $=\frac{P\times R\times T}{100}$
$\Rightarrow$ $45=\frac{P\times 9\times 1}{100}$
$\Rightarrow$ $P=\frac{45\times 100}{9\times 1}$
$\Rightarrow$ $P=Rs.500$
Hence, she borrowed Rs. $500$