Question

If Rs. 1000 be invested at interest rate of 5% and the interest be added to the principal every
10 years, then the number of years in which it will amount to Rs.2000 is:
a) 16 2/3 years b) 6 / years c) 16 years d) 6 2/3 years.​

Answer 1

Answer:

d) 6 2/3 years

Step-by-step explanation:

P= 1000

R=5%

T=1 yr.

Interest= PRT/100 = 1000x5x1/100 = Rs. 50

Interest of 10 yrs= 50x10= Rs 500

Interest of 20 yrs= Rs 500x2 = 1000

Amount of 20 yrs. = P+ Interest of 20 yrs

= 1000+1000=2000

Hence it will take 20 yrs. ,i.e. 6 2/3 yrs.