Question

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

• A. Rs. $450$
• B. Rs. $480$
• C. Rs. $500$
• D. Rs. $550$

Answer 1

The correct option is C Rs. $500$

Let the amount, Meena has borrowed $=P=$ Principal

Interest of one year $=Rs.45$

Rate, $r=9$% per annum

Time, $t=1$ year

Simple Interest $=\frac{P\times r\times t}{100}$

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

$9P=4500$

$P=Rs.500$