How long will it take for a sum of money to grow from Rs.2000 to Rs.10,000, if it is invested at 10% p.a simple interest?
Select the correct option.
A) 8 years B) 64 years C) 72 years D) 40 years E) None
In this case, Rs. 2000 has become Rs.10,000.   Therefore, the interest earned = 10,000 – 2000 = 8000   Interest for Rs 2000 @ 10% for 1 year = 200   200 - 1   8000 - ? =&gt; 40 years   Answer : 40 years
<result>D</result>
How long will it take for a sum of money to grow from Rs.2000 to Rs.10,000, if it is invested at 10% p.a simple interest?