If Meena gives an interest of Rs. 45 for one year at 9% rate p.a. What is the sum she has borrowed?
It is given that,
Rate (R) = 9 % p.a.
Time (T) = 1 years
S.I = Rs 45
We know that,
Simple interest (S.I) =
Therefore,
45 =
So, P =
= Rs 500
Hence,
She borrowed Rs 500