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

Given :

Meena pays an interest of 45₹ for one year at the rate of 9% p.a.

To find :

We have to find the sum borrowed.

Solution :

Let the sum she borrowed be Rs. P

Therefore,

$Simple\ Interest = \frac{PTR}{100}$

$45 = \frac{P\times1\times 9}{100}$

$9P = 45\times100$

$P = \frac{45\times100}{9}$

$P = 5\times100$

$P = 500$

Therefore, Meena borrowed a sum of Rs. 500. 

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Updated on: 10-Oct-2022

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