Correct Answer - Option 1 : 30 years
Given:
SI = P
R = \(3 \frac 1 3\)% = 10/3%
Formula:
SI = (P × R × T)/100
Calculations:
⇒ Let Principal amount be Rs. 100.
⇒ Simple Interest be Rs. 100.
⇒ Rate = \(3 \frac 1 3\) = 10/3
⇒ Simple Interest = P × R × T/100
⇒ 100 = (100 × 10/3 × T)/100
⇒ T = 10 × 3
⇒ T = 30 years
∴ Required time period is 30 years