Question 90
The amount triples itself under Compound interest in 7 years. In how many years will it become 27 times of it? (in years)
Solution
The amount gets tripled in 7 years.
In case of compound interest, the amount will become $$3^n$$ times in $$7n$$ years
=> Final amount = $$27=(3)^3$$
Thus, after $$7\times3=21$$ years, amount will become 27 times.
=> Ans - (A)
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