A) 45 years
B) 48 years
C) 54 years
D) 60 years
Correct Answer: A
Solution :
[a] \[A=P\,\,{{\left( 1+\frac{R}{100} \right)}^{T}}\] \[2=1\,\,{{\left( 1+\frac{Rate}{100} \right)}^{15}}\] Cubing on both sides, we have \[8=1\,\,{{\left( 1\frac{Rate}{100} \right)}^{45}}\] Required time = 45 yearsYou need to login to perform this action.
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