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:
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Explanation:
5% Simple interest of 200
200×5/100= 10Rs
Interest at the end of 1 year= 200×5×1/100
Interest = 10Rs
The Amount at the end of 2nd year will be
Interest = Principle×Rate×Time/100
Interest= 200×5×2/100
Interest= 20
Total Amount He should be given at the end of 2 years in order to clear his dues
Principal+Interest=Amount
200+20= 220 Rs
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