Rs. 1000 is invested at 5% per annum simple interest. If the interest…

Question

Rs. 1000 is invested at 5% per annum simple interest. If the interest is added to the principal after every 10 years, the amount will become Rs. 2000 after = ?

Accepted Answer

Option D. 162/3 years. Answer & Solution Answer: Option D Solution: & Principal = Rs . 1000 & Rate = 5\% & Interest for first 10 years & = 1000 × 5 × 10100 & = Rs . 500 & After 10 years principal & = (1000 + 500) & = Rs . 1500 & Remaining interest & = Rs . (2000 - 1500) & = Rs . 500 & Required time &…