Check the image size, and see what the units are. What often happens is we forget that size is set to a linear unit like Inches, and we dial in a size thinking it is in pixels. At 300dpi a 1000 x 1000 image is going to be huge. If type is set top pixels, then it tends to get lost.
Try a new Type layer, but specify a linear unit by typing in (for inch) or pt or mm.
Alsop look at Preference units. I suspect that Rulers might be in Inches. I like to to use pixels, but YMMV (it's a while since I last used that olde worlde internet short hand )
Thanks for your reply.
I have checked image size and change the preference for Units & Rulers, restarted PS but still having same issue.