Q40. A certain sum of money doubles itself in 4 years at some rate of compound interest, compounded annually. At the same rate, it will amount to eight times of itself in

(a) 10 years

No worries! We‘ve got your back. Try BYJU‘S free classes today!

(b) 12 years

Right on! Give the BNAT exam to get a 100% scholarship for BYJUS courses

No worries! We‘ve got your back. Try BYJU‘S free classes today!

(d) 16 years

No worries! We‘ve got your back. Try BYJU‘S free classes today!

Open in App

Solution

The correct option is B
(b) 12 years

$L e t p r i n c i p a l = P A = 2 P 2 P = P (1 + \frac{R}{100}) 4 2 = (1 + \frac{R}{100}) 4 2^{3} = (1 + \frac{R}{100}) 4 \times 3 8 = (1 + \frac{R}{100}) 12$

Suggest Corrections

Similar questions

Q. A sum of money at compound interest (compounded annually) doubles itself in

4

years. In how many years will it amount to eight times of itself ?

Q. A sum of money placed at compound interest doubles itself in 4 years. It will amount to eight times itself at the same rate in

Q. A sum of money double itself in 4 years at compound interest. In how many years it will become eight times at same rate of interest

A sum of money doubles itself in $3$ years at compound interest, when the interest is compounded annually.In how many years will the sum amount to $16$ times of itself?

Q. A sum of money doubles in

3

years at compound interest, compounded annually. It will become

4

times of itself in

Join BYJU'S Learning Program

Q40. A certain sum of money doubles itself in 4 years at some rate of compound interest, compounded annually. At the same rate, it will amount to eight times of itself in

The correct option is B (b) 12 years Let principal =PA=2P2P=P(1+R100)42=(1+R100)423=(1+R100)4×38=(1+R100)12

The correct option is B
(b) 12 years

$L e t p r i n c i p a l = P A = 2 P 2 P = P (1 + \frac{R}{100}) 4 2 = (1 + \frac{R}{100}) 4 2^{3} = (1 + \frac{R}{100}) 4 \times 3 8 = (1 + \frac{R}{100}) 12$