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# Aptitude - Simple Interest - Discussion

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"I never think of the future. It comes soon enough."
- Albert Einstein
 Avinash Anand said: (Thu, Jun 3, 2010 09:20:19 AM) A person takes a loan of Rs. 200 at 5% simple interest. He returns Rs. 100 at the end of 1 year. In order to clear his dues at the end of 2 years, he would pay: (Ans Rs. 115) ---------------- Answer is wrong, else the method is wrong , coz at the end of 1 year he pays 100/- , bcoz the amount at the end of 1 year must be 210/- n 210-100=110/- which is the principal for the next year. First year SI = 10, amount = P+SI=200+10=210, He pays 100/- at the end , so amount = 210-100=110, 110 is the new P for next year,

 Naveen said: (Fri, Jun 25, 2010 05:37:06 AM) The answer is wrong. Answer should be 115.50 based on amount of 110.

 Rosemary Maisnam said: (Fri, Jul 23, 2010 03:08:15 AM) I agree with Mr. Avinash, Pls clarify how you got that 115.

 Shwetha said: (Mon, Sep 6, 2010 03:18:21 PM) Solution is correct first he takes loan 200 then he return backs 100 so 200-100=100 then simple interest for 1 year and for 2 years that is ptr/00 so 115 is correct answer.

 Avinash Kumar said: (Tue, Sep 21, 2010 09:04:08 AM) He had taken 200/- at r.p.a 5% at the end of 1st year it increases to 210 but he had paid 100/- . So 210-100=110 in 110 10/- is interest and remaining is 100/- so calculate interest for 100/- it is 5/- so add 100+10+5=115. So by the end of the 2nd year he have to pay 115/-.

 Punit said: (Sun, Sep 26, 2010 01:15:21 AM) Anser is wrong. Correct answer is 110. Because it is not compound interest. It is simple interest it does not matter when you are paid to it and it would not be change.

 Sunte said: (Sun, Oct 31, 2010 03:25:04 AM) Ans is 115.5. The concept of SI is different from CI.

 Rlnmurty said: (Sun, Nov 7, 2010 11:24:59 PM) Answer is wrong as per my knowledge. He paid 100 at the end of first year. Out of which 10 is interest. So he paid 90 as part of paying back his principle. So remaining principal which is interest chargeable is 110. So he has to pay 110+ (110*5*1) /100=115. 50.

 Ajay Goyal said: (Sat, Nov 13, 2010 10:35:22 PM) I am agree with Rlnmurty. Nice explanation yar.

 Priya said: (Mon, Nov 29, 2010 10:27:18 AM) @Rlnmurthy Really good solution....in easy way..

 Baba said: (Sun, Dec 26, 2010 10:08:53 AM) The ans is correct as it is based on simple interest, according to SI interest must be calculated only to initial sum borrowed...

 Prateek said: (Mon, Jan 10, 2011 01:17:57 PM) The given answer is correct. The value 10 is the interest not money for Simple Interest. So interest should be calculated on 100 instead of 110.

 Sundari said: (Tue, Jan 11, 2011 05:15:02 AM) Tha answer is correct. Because calculating the interest for 1st year which Rs 10 is the interest. He paid 100 at the end of first year so calculate interest for amt 100 ie for Rs 5. So total interest he has to pay is Rs.15+Plus borrowed amount is 200(215). But he paid 100 in the previous year. So finally 215-100 = 115. So the answer is correct from my point of view.

 Viay Narayan Singh said: (Tue, Jan 25, 2011 04:07:26 AM) The answer is right. Because first year he only pay principal amount and not interest. So he has to pay Rs 10 as a interest for first year and Rs 5 for 2 nd year so total amount paid to clear his debt is 100+10+5= 115.

 Tripti said: (Mon, Jan 31, 2011 04:27:36 PM) The answer is absolutely correct. Sundari has given the exact explanation. It is the actual concept.

 Harsha R said: (Tue, Feb 15, 2011 05:15:07 AM) The SI for 200 at the end of 1st year=(200*1*5)/100=10. Hence total amount at the end of 1st year=200+10=210. But he returns back RS 100 at the end of 1st year. Hence principl amount for 2nd year=(210-100)=110. Then SI at the end of 2nd year=(110*1*5)/100=5.5. Hence total amount he needs to return at the end of 2nd year = 110+5.5 = Rs 115.5.

 Shivakarthik said: (Thu, Feb 24, 2011 11:00:10 PM) In general 5% interest of 200rs is 10rs .He return rs 100 at the end of 1 year (here the interest is 10 rs). so he want to give the another 100 rs in 1 year the interest for that amt is 5 rs so (10+5=15) 100+15=115 answer s correct ... hope u understand....

 Agarwal said: (Fri, Mar 18, 2011 01:30:01 PM) 1st year (200*5*1/100)+200=210.rs100 refund,so 210-100=110 2nd year (110*5*1/100)+110=115.5 If any doubt arise in any other question also post here..

 Krishna said: (Sun, Mar 20, 2011 07:44:58 AM) I agree with harsha, its the exact explanation according to me. Wow harsha.

 Shilpa said: (Mon, Apr 11, 2011 03:17:47 AM) Tel me the exact ans with denomination like p=? t=? r=?

 Sravanthi said: (Thu, Apr 14, 2011 02:21:35 AM) The solution is correct.. 100+10+5 Here,the 100 is the remaining amount he have 2 pay 10 is the S.I for first year 5 is the S.I for remaining 100..

 Neela said: (Sun, Apr 17, 2011 11:51:51 PM) Agreed with harsha's calculation.......its very simple and easy to understand

 Sahil said: (Wed, May 4, 2011 03:00:05 AM) Simple interest is ALWAYS calculated on the original principal. Compound interest is calculated on the original principal plus the interest accumulated over the years. If you apply compound interest method u will get 115.5 But if u apply simple interest you will get the correct answer which is 115. Sahil EEE, B.E(hons) Bits Pilani

 Neelam Verma said: (Thu, May 12, 2011 03:17:21 AM) 115 is correct answer because 10 rupee was remaing from 1 year and for the 2 year the simple interest on 100 rupee will be only 5% so adding 100+remaing year 10+5 % simple interest will be 115

 Mukesh Rai said: (Sat, Jun 4, 2011 06:24:02 AM) Dear All I am not getting what you are justifying let's have a solution from my end the person takes loan of Rs. 200 at 5% PA He returns Rs. 100 at the end of 1 year Bank will charged interest on Rs 200 for one Year taht is (200*5*1)/100 comes Rs 10 as interest But he returned Rs. 100 at the end of the first year hence the total is (90+10=100). hence still he has taken Rs 110. Now he clears all his dews at the end of the 2nd year now again Bank will charg interest over Rs 110 for 1 year Hence interest will be (110*5*1)/100 and taht comes Rs 5.5 hence total amount he has to pay at the end of the 2nd year is (110+5.5 = 115.5) hence the option D is correct and this given in answer is wrong

 Hasmukh Maniya said: (Mon, Jun 13, 2011 08:15:49 AM) You are Right Mr.Mukesh Rai.. I 100% agree with you... Keep it up You clear my mind to give good solution

 Sundar said: (Mon, Jun 13, 2011 08:27:04 AM) @All those are supporting 115.50 Given Question: A person takes a loan of Rs. 200 at 5% "simple interest".... What will be the answer if "compound interest" in the place of "simple interest" in the given question ? What will the difference in the amount he has to pay, while calculating with "simple interest" and "compound interest"? Can some one answer my questions please?

 Dharampal Singh said: (Wed, Jun 15, 2011 04:04:15 AM) Hi guys its me dharampal singh. There is no confusion at all. Please read problem carefully, particular problem is about simple interest not about compound interest. Interest has been charge on principle amount only not on interest. So answer is 115. Thanks you.

 Manoj said: (Thu, Jun 23, 2011 06:35:15 AM) The ans is correct as it is based on simple interest, according to SI interest must be calculated only.

 Nanditha said: (Sun, Jul 10, 2011 01:32:52 AM) Finally what is the conclusion? is 115 correct or 115.5 correct?

 Santhosh Yada said: (Sun, Jul 17, 2011 03:18:52 AM) 115 is correct

 Jojo Negi said: (Thu, Jul 28, 2011 11:11:20 AM) 115 is correct answer bcoz he had taken 200 for 2 years at 5% S.I for which become 10 rupees Total =210 at the end of 1st year so 210-100=10 rupees Now P become 100 for next year(S.I) coz he had return 100 rupees already S.I for 100 in one year at 5% is 5 So TOTAL momey to be paid by him would be 210+105=315 out of which he had return 100 So it becomes 215 , means which contains 100 rupees for sum and 115 rupees are to be paid.

 Bhashkar Tiwary said: (Fri, Jul 29, 2011 02:21:26 AM) The answer should be 115.50. It's very simple: after one year- net amount will be= principal + interest =200+(200*5*1)/100=210. The person paid 100. So new p is 110, so interest comes out to be=( 110*5*1)/100 =5.5 So total amt to be paid after 1 year gaain is = Rs. 115.50.

 Path_Breaker said: (Wed, Aug 10, 2011 09:22:52 PM) The answer is 115.50, correct it NOW

 Rufus Alex said: (Thu, Aug 11, 2011 11:28:32 AM) 115 is correct because logically thinking the power of simple interest is one must not calculate interest for the previous interest money and so no one will return the interest before returning the complete principle so 115 is correct

 Bindu said: (Wed, Aug 17, 2011 06:29:04 AM) Ans is 115 when it is SI and 115.5 when it is CI p=200 initially r=5% So si for first year =200*1*5/100=10 rs He returns rs 100 ie 200-100=100 So for the first year after paying 100 rs balance will be 100 rs principle and 10 rs interest .as it is si next year interest will be calculated for rs 100 which is The balance in his loan 2nd year si=100*1*5/100=5 rs So at the end of 2nd year to close the loan he has to pay rs 100(principle balance) +rs 10(interest 1st yr) +rs 5(interest 2nd year)=115 rs If it was CI answer will be 115.5 as 2nd years p will be 100+10 hope the confusion is over now :)

 Sumit said: (Fri, Aug 19, 2011 12:17:02 PM) For 1 year... si=200*5*1/100=10 rs Now lets say simple interest will be paid after 2nd yr... So after he paid 100 rs .. For next yr si will be calculated on (200-100)=100 si=100*5*1/100=5 So total amount should be paid after 2nd yr=100+5+10=115

 Bharghav said: (Sun, Aug 21, 2011 11:47:18 AM) I agree with bindu explanation.

 Vikas said: (Mon, Aug 22, 2011 01:11:16 PM) Statement is wrong. It should be stated that the Rs. 100 is paid back from the pricipal. Then answer is 115. Otherwise ans is 115. 50.

 Deepesh said: (Sun, Aug 28, 2011 01:24:22 PM) The given answer is correct , coz he left with 100/- plus the interest plus the interest of that 100/- which is due.. 100+10+(100*5*1/100) = 115

 Avijeet said: (Mon, Sep 5, 2011 11:03:07 AM) Hey guys, The answer is correct, because in simple interest the calculation is always done on the main amount not on the addition of interest and main. After first year amount=210, where 10 is intrest. since 100 is already paid so rest amount is 200+10-100=100+10. Since 10 is the interest of first year so we cannot include that amount for calculating the rest money of 2nd year. Now SI for next year = 100*5*1/100=5 Hence the total amount = main amount + SI of 1st year + SI of 2nd year = 100+10+5 = 115.

 Abdul said: (Fri, Sep 16, 2011 12:24:01 AM) Answer is absolutely correct. Just know about what is simple interest and compound interest.

 Sanyam said: (Sat, Sep 17, 2011 02:29:27 PM) Answer is 115...... SI for 1st year:(200*5)/100=10 (Now this is Interest) He paid 100/- after 1st year Now, new Principal becomes:100/- Interest on 100:(100*5)/100=5 So he has to pay:100+10+5=115

 Harika said: (Fri, Oct 28, 2011 08:24:09 PM) 115 is absolutely correct answer. Please don't get confused with simple interest with compound interest.

 Shub said: (Mon, Oct 31, 2011 07:59:49 PM) The SI for 200 at the end of 1st year=(200*1*5)/100=10. Hence total amount at the end of 1st year=200+10=210. But he returns back RS 100 at the end of 1st year. Hence principl amount for 2nd year=(210-100)=110. Then SI at the end of 2nd year=(100*1*5)/100=5. Hence total amount he needs to return at the end of 2nd year = 110+5 = Rs 115

 Anu said: (Sat, Nov 12, 2011 05:17:53 PM) I agree with miss Harsha are.

 Ramanath said: (Wed, Feb 8, 2012 11:20:36 AM) I agree with avinash kumar. Answer 115/- is absolutely currect.

 Shivani said: (Sat, Sep 1, 2012 08:33:49 PM) The answer is absolutely correct. it is 115. because in Simple Interest calculation interest is charged only on PRINCIPAL and not on interest accumulated meanwhile. so, it goes like: for year1: 200*5*1/100 = 10 Amount repaid: 100 Principal remaining= 200-100=100, Interest of year1= 10 For year2: 100*5*1/100 = 5 total amount payable= 100+10+5=115