A person takes a loan of Rs. 200 at 5% simple interest.
Posted on 20-04-2023
Ques - A person takes a loan of Rs. 200 at 5% simple interest. He return Rs. 100 at the end of 1 year. In order to clear his dues at the end of 2 years, he would pay :
(a) 125.50
(b) 110
(c) 115.50
(d) none of these
Solution -
Given,
P = 200
R = 5%
Now,
S.I. = (P×R×T) / 100
= (200 × 5 × 1 ) / 100
= 10
So,
Amount to be paid in first year = S.I + Principal
= 10 + 200
= 210
Thus,
Amount left as a principal for second year 210 - 100
= 110
So,
Amount paid in second year = 110 + S.I
= 110 + [(110 × 5 × 1 ) / 100]
= 110 + 5.5
= 115.5
Therefore,
He would pay 115.50.
Hence,
The correct answer is option (c) 115.50.
Thank You