If seema gets an interest of Rs. 72 for 2 year at 4% p.a. What is the sum she has borrowed?
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If seema gets an interest of Rs. 72 for 2 year at 4% p.a. What is the sum she has borrowed?
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Given,
Simple interest=Rs.45
Rate of interest=9%p.a
Time=1year
We know,
S.I= PRT/100
where,
P=principal
R=rate of interest
T=time
45= P×9×1/100
P= 45×100/9
P= 4500/9
P=Rs.500