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₹1,000 is invested at 5% per annum simple interest. If the interest is added to the principal after every 10 years, the amount will become ₹2,000 after
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- 15 years
- 18 years
- 20 years
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16 2 Year 3
- 15 years
Correct Option: D
After 10 years,
| SI = | = ₹ 500 | |
| 100 |
Principal for 11th year = 1000 + 500 = ₹ 1500
SI = ₹ (2000 – 1500) = ₹ 500
| ∴ T = | ||
| P × R |
| T = | = | years = 6 | years | |||
| 1500 × 5 | 3 | 3 |
| Total time = 10 + 6 | = 16 | years | ||
| 3 | 3 |
