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 4 of 9.
Suman saurav said:
1 decade ago
According to question solution is wrong. In the question it should be mention that the 100 rupees returned after 1 yr. is from the principal. Otherwise there should not be option of 115.50.
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.
ER. MAYANK JAIN said:
1 decade ago
The answer is correct as it is based on simple interest, according to SI interest must be calculated only to initial sum borrowed.
Joel said:
1 decade ago
If we follow the concept of SI then the answer 115 is correct.
Amol A said:
1 decade ago
115.5 is 100% Correct answer not 115 (115.5% Sure).
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.
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