InterviewSolution
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InterviewSolution
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Ashok opened a fixed deposit with certain amount in a bank .The sum quadrupled in 8 year at R% annum interest being compounded annually Find the time in which it will become 32 times itself at R% per annum interest being compounded annually (in years)A. 20B. 24C. 16D. 28 |
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Answer» Correct Answer - a Let the sum be Rs P `P(1+(R )/(100))^(8)=49` `(1+(R )/(100)^(8)=4` `1+(R )/(100)=4^(1//8)` Let the required time by N year `P(1+(R )/(100))^(N)=32 P` `(1+(R )/(100)^(N)=32` `(4^(1//8))^(N)=32` `(2^(2))^(N//8)=2^(5)` `2^(N//4)=2^(5)` `(N)/(4)=5rarrN=20` |
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