A persons takes a loan of Tk. 200 at 5% simple interest. He returns Tk. 100 at the end of 1 year. In order to clear his dues at the end of 2 years, he would pay:

A persons takes a loan of Tk. 200 at 5% simple interest. He returns Tk. 100 at the end of 1 year. In order to clear his dues at the end of 2 years, he would pay:

A Tk. 115

B Tk. 115.50

C Tk. 105

D Tk. 110

Solution

Correct Answer: Option B