Latest Elitmus Aptitude Question SOLUTION: a sum of money doubles itself in 4 years at c.i .it will amount to 8 times itself at the same rate of interest in how many years

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(#M40164062) ELITMUS Numerical Ability question Keep an EYE

a sum of money doubles itself in 4 years at c.i .it will amount to 8 times itself at the same rate of interest in how many years

Asked In Elitmus Sniper (7 years ago)

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Read Solution (3) :

akash das  (7 years ago)

2^1/4= 2^3/x
1/4=3/x
x=12 years

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vinay  (7 years ago)

28. i dont want to write. i can use that time to solve another question

Is this solution Helpfull? Yes (1) | No (7)  

ravi shanker  (7 years ago)

Let,
Principal = Rs. 100.
Amount = Rs. 200.
Rate = r%
Time = 4 years.
Now,
A = P*[1+ (r/100)]n;
200 = 100*[1+(r/100)]4;
2 = [1+(r/100)]4; ........... (i)
If sum become 8 times in the time n years,
then,
8 = (1+(r/100))n;
23 = (1+(r/100))n; ........ (ii)
Using eqn (i) in (ii), we get;
([1+(r/100)]4)3 = (1+(r/100))n;
[1+(r/100)]12 = (1+(r/100))n;
Thus, n = 12 years.

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