New Click here to Enroll for SIDBI MSME Expert Classes by Experts

    Register

    Question

    Rs 2000 are invested at 5% per annum simple interest. If

    the interest is added to the principal after every 15 years, the amount will become Rs 4,000 after -
    A 20 years Correct Answer Incorrect Answer
    B 16(2/3)years Correct Answer Incorrect Answer
    C 25 years Correct Answer Incorrect Answer
    D 17(6/7)years Correct Answer Incorrect Answer
    E 12(1/2)years Correct Answer Incorrect Answer

    Solution

    S.I for 15 years = (2000 × 5 × 15)/100 = Rs 1,500 Principal after 15 years become = Rs 2,000 + 1,500 = Rs 3,500 S.I on it = Rs (4,000 – 3,500) = Rs 500 Time = (100 × 500)/(5 × 3500) = 2(6/7) years Total time = [15+2(6/7)] = 17(6/7) years

    Practice Next

    Relevant for Exams: