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Question

If Meena pays an interest of ₹ 45 for one year at 9% rate p.a, what is the sum she has borrowed?

A
₹ 550
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B
₹ 500
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C
₹ 450
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D
₹ 400
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Solution

The correct option is B ₹ 500
Given,
Meena pays an interest of ₹ 45 for one year at rate of interest is 9% p.a.
So, Interest = ₹ 45
Time = 1 year
Rate of interest = 9 %
Principal =?
We know that, S.I=P×R×T100

45=P×9×1100

P=45×1009

P= 500

The sum she borrowed is ₹ 500.

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