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 3 of 9.
Nishant said:
9 years ago
You are absolutely correct @Addan Kayani.
Addan kayani said:
9 years ago
Correct answer is 115.
As per calculation and definition of simple interest.
The total amount borrowed 200. For 2 year period.
If we calculate interest per period we get our answer.
S = p(1 + rt).
S = 200(1 + .05*1).
S = 210.
Less amount returned.
210 - 100 = 110.
For the second period of time, we take 100 as principal, not 110.
S = p(1 + rt).
S = 100(1 + .05*1).
S = 105.
Add the previous interest which is 10 Rs.
Total payable,
105 + 10 = 115.
As per calculation and definition of simple interest.
The total amount borrowed 200. For 2 year period.
If we calculate interest per period we get our answer.
S = p(1 + rt).
S = 200(1 + .05*1).
S = 210.
Less amount returned.
210 - 100 = 110.
For the second period of time, we take 100 as principal, not 110.
S = p(1 + rt).
S = 100(1 + .05*1).
S = 105.
Add the previous interest which is 10 Rs.
Total payable,
105 + 10 = 115.
Amit said:
10 years ago
Correct answer is 115.50 because 110 is P for next year.
Abhishek PPLO said:
10 years ago
After 1st year, SI was 10, amount at the end of 1st year to paid is 210 and he paid 100, so remaining amount is 110.
Next year, SI will be on 110, so SI is coming out to be 5.5, and amount to be paid is 115.5.
Next year, SI will be on 110, so SI is coming out to be 5.5, and amount to be paid is 115.5.
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.
Sarath said:
1 decade ago
Friends question is clear he taken loan Rs. 200 for two years so,
1st calculate simple interest for 2 years.
i.e S.I = 200*5*2/100 = 20.
So total amount = 200+20 = 220.
So he returns 100 rupees in 1st year = 220-100 = 120.
Rs. 120 is a right answer.
And 1st year he didn't give he give only Rs. 100.
1st calculate simple interest for 2 years.
i.e S.I = 200*5*2/100 = 20.
So total amount = 200+20 = 220.
So he returns 100 rupees in 1st year = 220-100 = 120.
Rs. 120 is a right answer.
And 1st year he didn't give he give only Rs. 100.
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.
Prasanthi said:
1 decade ago
Hey the answer should b 115.5.
Because for the last 1 year, the SI is calculated as (210-100)*1*5/100 which is 5.5/-.
So the total amount to be re payed now is 110+5.5 rupees.
Because for the last 1 year, the SI is calculated as (210-100)*1*5/100 which is 5.5/-.
So the total amount to be re payed now is 110+5.5 rupees.
Gayathridevi said:
1 decade ago
Answer is correct.
Consider for 200, totally he has to pay = 200+(200*2*5)/100 = 220.
= P+(PTR)/100 = 220.
Remove that returned 100/-and that interest from 220.
= 220-(100+(100*1*5)/100) = 220-105 = 105. Which is answer?
Consider for 200, totally he has to pay = 200+(200*2*5)/100 = 220.
= P+(PTR)/100 = 220.
Remove that returned 100/-and that interest from 220.
= 220-(100+(100*1*5)/100) = 220-105 = 105. Which is answer?
Sreehari said:
1 decade ago
Hello all.
115 is the correct answer.
200*0.05 = 210. But he paid 100. So, though the remaining amount is 110, interest is only for 100 as the case is simple interest. So 5 Rs on 100 plus 210-100. If this is the case of compound interest then, answer is 115.5, for now its 115.
115 is the correct answer.
200*0.05 = 210. But he paid 100. So, though the remaining amount is 110, interest is only for 100 as the case is simple interest. So 5 Rs on 100 plus 210-100. If this is the case of compound interest then, answer is 115.5, for now its 115.
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