With an external table the data itself will be still stored on the HDFS in the file path that you specify (note that you may specify a directory of files as long as they all have the same structure), but Hive will create a map of it in the meta-store whereas the managed table will store the data "in Hive".
When you drop a managed table, it drops the underlying data as opposed to dropping a hive external table which only drops the meta-data from the meta-store referencing that data.
Either way you are using only 100GB as viewed by the user and are taking advantage of the HDFS' robustness though duplication of the data.