A sum of 1500 is invested at 5% p.a. simple interest. If the interest is added to the principal after every 10 years, the amount will become ₹ 3000 after :

$15\frac{1}{2}$ years $16\frac{2}{3}$ years 18 years 20 years

$16\frac{2}{3}$ years

The correct answer is Option (2) → $16\frac{2}{3}$ years