A) \[1\frac{1}{2}yr\]
B) 2 yr
C) 1 yr
D) \[2\frac{1}{2}yr\]
Correct Answer: D
Solution :
Given that, \[P=Rs.1000A=Rs.1331,\] \[r=20%\] \[\text{n}\,\text{=}\,\text{t}\,\,\text{(say) }\] For half yearly \[r=10%\] per half year \[n=2t\] half years \[\therefore \] \[1331=1000{{\left( 1+\frac{10}{100} \right)}^{2t}}\] \[\Rightarrow \] \[{{\left( \frac{11}{10} \right)}^{3}}={{\left( \frac{11}{10} \right)}^{2t}}\] \[\Rightarrow \] \[3=2t\] \[\Rightarrow \] \[t=\frac{3}{2}=1\frac{1}{2}yr\]
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