New Enroll in RBI Grade B New Batch - Starts on May 21

    Question

    Rs 2000 are invested at 5% p.a simple interest. If the

    interest is added to the principal after every 10 years, the amount will become Rs 4000 after
    A 15 years Correct Answer Incorrect Answer
    B 20 years Correct Answer Incorrect Answer
    C 16(2/3) years Correct Answer Incorrect Answer
    D 6(2/3) years Correct Answer Incorrect Answer
    E 12(1/2) years Correct Answer Incorrect Answer

    Solution

    S.I for 10 years = (2,000 × 5 ×10)/100 = Rs 1,000 Principal after 10 years becomes = Rs (2,000 + 1,000) = Rs 3,000 S.I on it = Rs 4,000 – 3,000 = Rs 1,000 Time = (100 ×1000)/(5 × 3000) = 6(2/3) years Total time = 10 + 6(2/3) years = 16(2/3) years

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