Question

Marks: +1
Rajesh, a money lender, lends in the following manner. For the first year, he charges 2%pa, for the second
year, he charge 4% pa. For the third year he charges 6% pa for the third year, he charges 6%pa and so on. If he
lends a sum in this way at simple interest, find the least integral number of years in which it will fetch an
interest at least equal to it self.​

Answer 1

Answer:

10 years

Since this is simple interest we dont calculate interest after adding interest.

Let the initial amount be 100

Thus in the first year the amount is 102 in the second year since the rate is 4%, This is 4% of 100 and not 102 Thus we add 4 to 102

Thus the amounts go like this

100 -> 102 -> 106 -> 112 -> 120 -> 130 -> 142 -> 156 -> 172 -> 190 -> 210

Step-by-step explanation:

Answer 2

Answer:

10

Step-by-step explanation: