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A sum becomes 4 times in 2 years at compound interest. In how many years the same sum will become 16 times?1). 32). 43). 24). 1 |
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Answer» LET the sum = P ⇒ $(4P = P \TIMES {\left( {1 + \frac{R}{{100}}} \right)^2})$ $(\Rightarrow 4 = {\left( {1 + \frac{R}{{100}}} \right)^2})$ ⇒ $(2 = 1 + 0.01R \Rightarrow R = 100)$(1) When sum becomes 16 times: ⇒ $(16P = P \times {\left( {1 + \frac{R}{{100}}} \right)^n})$ $(\Rightarrow \;16 = {\left( {1 + \frac{{100}}{{100}}} \right)^n})$ ⇒ $({2^4} = {2^n})$ ∴ n = 4 years |
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