Question 88

The amount doubles itself under Compound interest in 7 years. In how many years will it become 128 times of it?

Solution

The amount gets doubled in 7 years.

In case of compound interest, the amount will become $$2^n$$ times in $$7n$$ years

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

Thus, after $$7\times7=49$$ years, amount will become 128 times.

=> Ans - (C)

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