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Question
A person takes a loan of ₹200 at 5% simple interest. He returns ₹100 at the end of 1 yr. In order to clear his dues at the end of 2 yr, he would pay
Options
₹105
₹110
₹115
₹115.50
MCQ
Solution
₹115
Explanation :
Amount to be paid
= `₹(100+(200xx5xx1)/100+(100xx5xx1)/100)= ₹115`
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Simple and Compound Interest (Entrance Exam)
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