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 5 of 9.
Avijeet said:
1 decade ago
Hey guys,
The answer is correct, because in simple interest the calculation is always done on the main amount not on the addition of interest and main.
After first year amount=210, where 10 is intrest.
since 100 is already paid so rest amount is 200+10-100=100+10.
Since 10 is the interest of first year so we cannot include that amount for calculating the rest money of 2nd year.
Now SI for next year = 100*5*1/100=5
Hence the total amount = main amount + SI of 1st year + SI of 2nd year
= 100+10+5 = 115.
The answer is correct, because in simple interest the calculation is always done on the main amount not on the addition of interest and main.
After first year amount=210, where 10 is intrest.
since 100 is already paid so rest amount is 200+10-100=100+10.
Since 10 is the interest of first year so we cannot include that amount for calculating the rest money of 2nd year.
Now SI for next year = 100*5*1/100=5
Hence the total amount = main amount + SI of 1st year + SI of 2nd year
= 100+10+5 = 115.
Abdul said:
1 decade ago
Answer is absolutely correct. Just know about what is simple interest and compound interest.
Sanyam said:
1 decade ago
Answer is 115......
SI for 1st year:(200*5)/100=10 (Now this is Interest)
He paid 100/- after 1st year
Now, new Principal becomes:100/-
Interest on 100:(100*5)/100=5
So he has to pay:100+10+5=115
SI for 1st year:(200*5)/100=10 (Now this is Interest)
He paid 100/- after 1st year
Now, new Principal becomes:100/-
Interest on 100:(100*5)/100=5
So he has to pay:100+10+5=115
Harika said:
1 decade ago
115 is absolutely correct answer. Please don't get confused with simple interest with compound interest.
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
Anu said:
1 decade ago
I agree with miss Harsha are.
Ramanath said:
1 decade ago
I agree with avinash kumar. Answer 115/- is absolutely currect.
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
Amol A said:
1 decade ago
115.5 is 100% Correct answer not 115 (115.5% Sure).
Joel said:
1 decade ago
If we follow the concept of SI then the answer 115 is correct.
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