A sum of money let out at C.I. at a certain rate per annum becomes three times of itself in 8 years. Find in how many years will the money become twenty-seven times of itself at the same rate of interest p.a.
Compound Interest
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Question

A sum of money let out at C.I. at a certain rate per annum becomes three times of itself in 8 years. Find in how many years will the money become twenty-seven times of itself at the same rate of interest p.a.

Compound Interest

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KnowledgeBoat · Accepted Answer

Let rate of interest be r% and sum of money be ₹ P. By formula, A = Given, ₹ P becomes three times of itself in 8 years. Let in n years money becomes 27 times. From equation (1) Hence, in 24 years money will becomes 27 times of itself.

Mathematics

A sum of money let out at C.I. at a certain rate per annum becomes three times of itself in 8 years. Find in how many years will the money become twenty-seven times of itself at the same rate of interest p.a.

Compound Interest

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