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Certain sum becomes 3 times it self at compound interest in 10 years.
Question 1:
Certain sum becomes 3 times it self at compound interest in 10 years.
In how many years it becomes 9 times?
A.
25 years
B.
27 years
C.
30 years
D.
20 years
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P(1 + R/100)10 = 3P
=> P(1 + R/100)10 = 3
Let P(1 + R/100)n = 9P
=> (1 + R/100)n = 9
=> 32 = [(1 + R/100)10]2
=> (1 + R/100)n => (1 + R/100)20
=> n = 20 Years.
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