Aptitude - Simple Interest - Discussion

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)

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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,

The answer is wrong. Answer should be 115.50 based on amount of 110.

I agree with Mr. Avinash, Pls clarify how you got that 115.

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.

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/-.

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.

Ans is 115.5. The concept of SI is different from CI.

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.

I am agree with Rlnmurty. Nice explanation yar.

@Rlnmurthy

Really good solution....in easy way..