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Railways Sample Paper RRBs Assistant Loco Pilot and Technician CBT STAGE-I Sample Paper-4

  • question_answer
    A sum of money doubles itself at compound interest in 15 yr. In how many years will it become eight times?

    A)  30                   

    B)  45

    C)  50                   

    D)  60

    Correct Answer: B

    Solution :

    We know that a certain sum of money becomes n times in t yr when compounded annually. It will becomes \[{{n}^{x}}\]times at the same rate of compound interest in xt yr. \[\therefore \] A sum of money doubles itself at compound interest in 5yr. \[\therefore \] It will becomes 8 times in \[15\times 3\]yr i.e. in 45 yr.


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