Subject
Quantitative Aptitude
Topic
Interest
A sum of money becomes eigth times in 3 years if the rate is compounded annually. In how much time, the same amount at the same compound interest rate will become sixteen times?
A sum of money becomes eigth times in 3 years if the rate is compounded annually. In how much time, the same amount at the same compound interest rate will become sixteen times?
ক)
6 yearsখ)
4 yearsগ)
8 yearsঘ)
5 yearsঙ)
None of theseExplanation
Let P is the principal amount. Then, amount received at the end of three years = 8P According to the given condition, ⇒ 2 = 1 + r/100 ⇒ R = 100 % Now, to get amount as 16 times of the principal, ⇒ T = 4 years.Related questions
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