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A person takes a loan of Rs. 200 at 5% simple interest. He returns Rs.100 at the end of one year. In order clear his dues at the end of 2 years, he would pay :

Rs. 100
Rs. 105
Rs. 115
Rs. 110

Correct Answer: Rs. 115

Explanation:

Amount to be paid = $R s . 100 + \frac{200 \times 5 \times 1}{100} + \frac{100 \times 5 \times 1}{100}$ = Rs. 115.

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