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Question

An amount of Rs. 'x' is invested at a simple interest rate of 15% per annum and grows to Rs. 14,500 after 3 years. If the same amount Rs. 'x' is instead invested at a compound interest rate of 20% per annum, compounded semi-annually, it becomes Rs. 13,310 after an unknown period. Determine the time required for this compound interest investment.

A 7/2 yrs

B 5/2 yrs

C 3/2 yrs

D 2/3 yrs

E None of these

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