Question
If a sum on compound interest becomes three times in 4 years, hen with the same inerest rate , the sum will become 27 times in :
Answer: Option B
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`P(1 + R/100)^4 = 3P `
`rArr (1 + R/100)^4 = 3 ` .................................................(i)
Let `P(1 + R/100)^n = 27P`
`rArr (1 + R/100)^n = 27 = 3^3 = {(1 + R/100)^4 }^3` [using(i)]
`rArr (1 + R/100)^n = (1 + R/100)^12`
`rArr n= 12.`
`:.` Required time = 12 years.
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