CMAT 2020 Question 5

Question 5

A company publishes to its customers that at a certain compound interest rate, a sum of money deposited by anyone will become 8 times in 3 years. If the same amount is deposited at the same compound rate of interest, then in how many years will it become 16 times ?


If a sum of money becomes $$x$$ times in $$a$$ years, it will become $$y$$ times in $$b$$ years

=> $$(x)^{\frac{1}{a}}=(y)^{\frac{1}{b}}$$

Similarly, $$(8)^{\frac{1}{3}}=(16)^{\frac{1}{t}}$$

=> $$(2)^{\frac{3}{3}}=(2)^{\frac{4}{t}}$$

=> $$1=\frac{4}{t}$$

=> $$t=4$$ years

=> Ans - (A)

View Video Solution

Create a FREE account and get:

  • All Quant Formulas and shortcuts PDF
  • 40+ previous papers with solutions PDF
  • Top 500 MBA exam Solved Questions for Free

    meghal sadhu

    2 months, 1 week ago

    Want to watch the solution

    Register with


    Boost your Prep!

    Download App