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# If Meena gives an interest of Rs. 45 for one year at ${\text{9\% }}$ rate p.a.What is the sum she has borrowed?

Last updated date: 25th Mar 2023
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Hint:-Simple Interest $= \dfrac{{{\text{(principle value)*(Interest rate)*(time period)}}}}{{100}}$

As, we are given with simple interest, rate of interest and time period.
And asked for the initial amount borrowed by Meena.
$\Rightarrow$So, Simple interest $= {\text{ }}Rs45$
$\Rightarrow$Rate for interest for 1 year is ${\text{9\% }}$p.a.
$\Rightarrow$Time period $=$ 1 Year
And as we know that formula for Simple Interest $(S.I)$ is calculated as,
$\Rightarrow S.I. = \dfrac{{PRT}}{{100}}$ (1)
Where,
P $=$ Principle amount or initial amount borrowed (we had to find)
R $=$ Rate of interest on the initial amount borrowed by Meena.
T $=$ Time period
S.I $=$ Simple Interest
So, now putting the values of S.I, P, T and R in the equation 1. We get,
$\Rightarrow 45 = \dfrac{{P*9*1}}{{100}}$
Solving the above equation for getting the value of P. We get,
$\Rightarrow P = \dfrac{{4500}}{9}$
So, P $=$ Rs 500
$\Rightarrow$Hence, the amount borrowed by Meena is Rs 500.
Note:- Whenever we came up with this type of question where we are given with
Simple Interest, then we had to use Simple interest formula $\left( {S.I. = \dfrac{{PRT}}{{100}}} \right)$, to