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Question
If Meena gives an interest of ₹ 45 for one year at 9% rate p.a.. What is the sum she has borrowed?
Solution
Simple Interest = `("Principal" xx "Rate" xx "Time")/100`
45 = `("Principal" xx 9xx1)/100`
Principal = `(45xx100)/9`
= ₹ 500
Therefore, Meena has borrowed ₹ 500.
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