mangamma wrote:
A man invested $ P in a long term investment plan for 24 years at an interest compounded annually. Due to some financeil crisis he had to withdraw money at the end of 6 years. How much more amount could be have gotten after 24 years if he received $ 3P after 6 years. It is known that there were no other charges of deduction in the plan?
A) 9P
B)24P
c)72P
D)78P
E)81P
24 years / 6 years as every 6 years the investment becomes thrice of the investment . So we get 24/6 = 4 intervals .
Now,
P$ ---------3P$ (1-6 YEARS)
3P$--(*3)--9P& (6-12 YEARS)
9P$--(*3)--27P$ (12- 18 YEARS)
27P$-(*3)--81P$ (18- 24 YEARS)
NOW How much more amount could he have gotten after 24 years , simply find difference between the amt he received and the final amt which he would have received after 24 years = 3P$ -81P$ = 78$ ,
ANSWER IS D