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Management Aptitude Test 2016 Paper
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© examsnet.com
Question : 108
Total: 200
If ₹ 1000 be invested at interest rate of 5% and the interest be added to the principal every 10 yr, then the number of years in which it will amount to ₹ 2000 is
6
2
3
yr
6
1
4
yr
16 yr
11 yr
Validate
Solution:
(a) The interest earned in 10 yr on ₹ 1000 at 5% per annum
=
100
×
5
×
10
100
= ₹ 500
The principal now becomes = ₹ (1000 + 500) = ₹ 1500
Now, we find the time in which ₹ 1500 becomes ₹ 2000.
Given, P = ₹ 1500 and A = ₹ 2000
∵ A = P+
P
×
r
×
t
100
⇒ 2000 = 1500 +
1500
×
5
×
t
100
⇒ t = 500 ×
100
1500
× 5 =
6
2
3
yr
© examsnet.com
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