Question 65

The amount doubles itself under Compound interest in 3 years. In how many years will it become 128 times of it?

Solution

The amount gets doubled in 3 years.

In case of compound interest, the amount will become $$2^n$$ times in $$3n$$ years

=> Final amount = $$128=(2)^7$$

Thus, after $$3\times7=21$$ years, amount will become 128 times.

=> Ans - (C)

Share on Whatsapp Share on Whatsapp

Create a FREE account and get: