Question

rajesh a money lender lends in the following manner. for the first year he charges 2% p.a, for the second year he charges 4% p.a, for the third year he charges 6% p.a and so on. if he lends a sum in this way at simple interest find the least integral number of years in which it will fetch an interestat least equal to itself

Answer 1

10 years

Since this is simple interest we dont calculate interest after adding interest.
Let the initial amount be 100
Thus in the first year the amount is 102 in the second year since the rate is 4%, This is 4% of 100 and not 102 Thus we add 4 to 102

Thus the amounts go like this
100 -> 102 -> 106 -> 112 -> 120 -> 130 -> 142 -> 156 -> 172 -> 190 -> 210