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.
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
Ramanath said:
1 decade ago
I agree with avinash kumar. Answer 115/- is absolutely currect.
Anu said:
1 decade ago
I agree with miss Harsha are.
Shub 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=(100*1*5)/100=5.
Hence total amount he needs to return at the end of 2nd year
= 110+5 = Rs 115
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
Harika said:
1 decade ago
115 is absolutely correct answer. Please don't get confused with simple interest with compound interest.
Abdul said:
1 decade ago
Answer is absolutely correct. Just know about what is simple interest and compound interest.
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.
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.
Amit said:
10 years ago
Correct answer is 115.50 because 110 is P for next year.
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.
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