Question

sol. (2) Let the principal be ₹ 1.
( therefore A=Pleft(1+frac{R}{100}right)^{T} Rightarrow 8=1left(1+frac{R}{100}right)^{3} )
( Rightarrow 2^{3}=left(1+frac{R}{100}right)^{3} Rightarrow 2=left(1+frac{R}{100}right)^{1} )
( Rightarrow 2^{4}=left(1+frac{R}{100}right)^{4} )
( therefore ) Time ( =4 ) years

# Ex.2. A sum of money becomes eight times in 3 years, if the rate is compounded annually. In how much time will the same amount at the same com- pound rate become sixteen times? SSC CGL (Tier-n 2014 (1) 6 years (2) 4 years (3) 8 years (4) 5 years

Solution