Latest Bank Exam Aptitude Question SOLUTION: 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: A. Rs. 105 B.

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(#M40003051) BANK EXAM question Keep an EYE

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:

A.
Rs. 105
B.
Rs. 110
C.
Rs. 115
D.
Rs. 115.50

Asked In Bank Exam jai Narayan Mishra (12 years ago)

Unsolved Read Solution (6)

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Read Solution (6) :

Vadivelan M  (12 years ago)

C. Rs. 115
For 1st year Rs.10 is interest.
For 2nd year Rs.5 as he paid 100 at the end of 1st year.
No interest for 1st year interest as its simple interest.
So total interest is Rs.15. Remaining Rs.100 in loan. So total Rs.115.

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CHANDAN KR SINGH  (12 years ago)

ANSWER : Rs115.50

SOLUTION :

For the first year
P = 200
T = 1 year
R = 5%
SI = P*T*R/100 = 10
Amount = 210
Paid = 100
Remaining = 210 - 100 = 110
If he not paid Rs 100 money after 1 year then SI will be calculated for next year also.
But now for 2nd Year
P = 110
t = 1 Year
R = 5%
SI = 110*1*5/100 = Rs 5.5
Amount 110 +5.5 = Rs 115.50

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akshay tr  (12 years ago)

200+(200*5/100)=210
210-100=110
110+(110*5/100)=115.50

Is this solution Helpfull? Yes (2) | No (2)  

Sachin kumar verma  (12 years ago)

Answer: (D)
Solution:
principal=200
rate=5%
interest of first year=10
but he gave only 100 rs.
so 10 due for first year
and add to the second year
now the interest will on 110 at 5% per annum
so that is rs 5.5
so he has to pay to clear his dues is= 110+5.5=115.50

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CH NEERAJ  (8 years ago)

As this is a simple interest based question, so the previous year calculated interest will have no role in determining the amount of next year (but requires in the calculation of CI).

Thus, after paying Rs. 100 at the end of first year the person is left with Rs. 110 (including Rs. 10 as SI for the first year) but the note-worthy thing here is that Rs. 10 is the interest to be paid which is not to be included in the calculation of SI for next year (Since, we are dealing with SI). So, keep that Rs. 10 aside for a while.

Now we calculate the SI for the second year, taking Rs. 100 as the principal (Since, we are dealing with SI) which gives Rs. 5 as the interest to be paid for the second year.

Now the balance amount to be paid at the end of second year = Rs. (100 + 10 + 5) [Since we know that he already paid Rs. 100 out of the principal amount and rest he need to pay the interests on yearly basis of the standing amount]

That's all...

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saddam shaikh  (5 years ago)

After two years S.I. will be 20 .it means at the end of the 2 year ,he has to pay 220 ,but he has already paid 100 at the end of 1 year and interest for this rs 100 for 1 year will be 5 . So effectively he had paid 105 out of 220 ..hence at the end of 2 year he will paid 220-105=115

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