# 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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Answer

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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

get the required answer.

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

get the required answer.

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