Aptitude - Simple Interest - Discussion
Discussion Forum : Simple Interest - General Questions (Q.No. 14)
14.
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:
Answer: Option
Explanation:
| Amount to be paid |
|
|||||||||
| = Rs. 115. |
Discussion:
83 comments Page 2 of 9.
Sundar said:
1 decade ago
@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?
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?
Trishul said:
1 decade ago
The question is not clear here. There are two cases:.
1) If Rs. 100 he paid at the end of 1st year is used to first clear the interest of Rs. 10 generated, then answer will come Rs. 115.50/-.
2) If Rs. 100 he paid at the end of 1st year is only used to reduce the principle amount, then answer comes as Rs. 115/-.
Because it is simple interest and only the principle amount, not interest amount, is used to calculate interest.
1) If Rs. 100 he paid at the end of 1st year is used to first clear the interest of Rs. 10 generated, then answer will come Rs. 115.50/-.
2) If Rs. 100 he paid at the end of 1st year is only used to reduce the principle amount, then answer comes as Rs. 115/-.
Because it is simple interest and only the principle amount, not interest amount, is used to calculate interest.
Krishu said:
9 years ago
IN SI, the principal is always same, but in CI principal get vary ie, (p+ci) this is the concept.
You can take an example for it and find CI and SI for single case. you will see SI is always found in original principal, whether it is for 1st, 2nd yr and so on.
But for CI, interest always find on (p+interest), every year principal gets changed which will be( p+interest).
So the ans is correct ie 115.
You can take an example for it and find CI and SI for single case. you will see SI is always found in original principal, whether it is for 1st, 2nd yr and so on.
But for CI, interest always find on (p+interest), every year principal gets changed which will be( p+interest).
So the ans is correct ie 115.
Teju said:
8 years ago
115 is the clear answer.
Because I have 200 /- for 3 years with 5% simple interest. So its interest will be 30/- and totally become 230/-. If you solve this problem year by year its interest will be 231.525/- as for one year si is 10/- and sum is 210/- for second year si is 10. 5/- and sum is 220.5/- for 3rd year SI is 11.025 so the total sum is 231.525 so you can easily understand.
Because I have 200 /- for 3 years with 5% simple interest. So its interest will be 30/- and totally become 230/-. If you solve this problem year by year its interest will be 231.525/- as for one year si is 10/- and sum is 210/- for second year si is 10. 5/- and sum is 220.5/- for 3rd year SI is 11.025 so the total sum is 231.525 so you can easily understand.
Ritesh said:
1 decade ago
For first year S.I = 200*5*1/100 = 10 so total amount he needs to pay at the end of 1 year = 10+200 = 210.
He paid 100 so rest amount = 210-100 = 110(100+10)(10 is the interest).
Now instead of 110 the principal will be 100 for the next year.(interest is calculated on principal value in case of S.I).
So S.I = 100*5*1/100 = 5(interest).
So he will pay 100+10+5 = 115.
He paid 100 so rest amount = 210-100 = 110(100+10)(10 is the interest).
Now instead of 110 the principal will be 100 for the next year.(interest is calculated on principal value in case of S.I).
So S.I = 100*5*1/100 = 5(interest).
So he will pay 100+10+5 = 115.
Sundari said:
1 decade ago
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.
But he paid 100 in the previous year.
So finally 215-100 = 115. So the answer is correct from my point of view.
Ganesh said:
7 years ago
Answer is correct as;
--> 1. firstly calculate the SI for the first year that comes to be 10rs.
2.Then he returned 100rs at the end of the first year so remaining amount to be paid is 100 + 10.
3.Now for the second yr the SI will be calculated on 100rs which comes to be 5rs. So total amount to be paid at the end of second yr is 100 + 10 + 5 =115.
--> 1. firstly calculate the SI for the first year that comes to be 10rs.
2.Then he returned 100rs at the end of the first year so remaining amount to be paid is 100 + 10.
3.Now for the second yr the SI will be calculated on 100rs which comes to be 5rs. So total amount to be paid at the end of second yr is 100 + 10 + 5 =115.
Ram Kr Prajapati said:
1 decade ago
Its answer is wrong.
Right answer is = 115.5.
Solution:
If he wants to clear his loan in 1 year then he has to pay:
200+[(200*5*1)/100] = 210.
But he only pay 100 rupees at the end of 1 year, so he is in debt of rupees = (210-100) = 110;
Now if he wants to remove all his debt in end of 2nd year.
Then he has to pay : 110+{(110*5*1)/100)}.
= 115.5.
Right answer is = 115.5.
Solution:
If he wants to clear his loan in 1 year then he has to pay:
200+[(200*5*1)/100] = 210.
But he only pay 100 rupees at the end of 1 year, so he is in debt of rupees = (210-100) = 110;
Now if he wants to remove all his debt in end of 2nd year.
Then he has to pay : 110+{(110*5*1)/100)}.
= 115.5.
Harsha R said:
1 decade ago
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.
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.
Shivani said:
1 decade ago
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
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
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