Question

If Meena gives an interest of Rs 45 for one year at $9\%$ rate p.a what is the sum she has borrowed?
[4 MARKS]

Answer 1

Concept : 1 Mark
Application : 1 Mark
Calculation : 2 Marks

Here,

Interest = Rs 45

Time = 1 year

Rate of interest = $9\%$

Principal = ?

We know that,

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

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

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

$\therefore P=Rs.500$

The sum she borrowed is Rs 500.