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SSC Sample Paper Mock Test-17 SSC CGL Tear-II Paper-1

  • question_answer
    A sum of money placed at compound interest doubles itself in 5 yr. In how many years, it would amount to eight times of itself at the same rate of interest?

    A) 10 yr

    B)  15 yr

    C)  7 yr

    D)  20 yr

    Correct Answer: B

    Solution :

    Let the principal Rs. P and rate of interest be r %. \[\therefore \]      \[2P=P{{\left( 1+\frac{r}{100} \right)}^{2}}\] \[\Rightarrow \]   \[2={{\left( 1+\frac{r}{100} \right)}^{5}}\] On cubing, \[8={{\left( 1+\frac{r}{100} \right)}^{15}}\] \[\therefore \]      Time = 15 yr


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