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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