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A sum of money is invested under compound interest for a few years. Af

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A sum of money is invested under compound interest for a few years. Af  [#permalink]

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New post 10 Jul 2017, 02:43
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Question Stats:

78% (01:29) correct 22% (01:42) wrong based on 47 sessions

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A sum of money is invested under compound interest for a few years. After how many years will the sum of money become nine times its present value?

(1) The sum of money invested under compound interest at the same rate of interest per annum became thrice its value in 6 years.
(2) The sum of money, under compound interest, at the same rate of interest per annum, would become twenty-seven times its present value in 9 years.

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Re: A sum of money is invested under compound interest for a few years. Af  [#permalink]

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New post 11 Jul 2017, 06:43
the compound interest basic formula
amount = principal (1+r/100)^n

stat 1: A becomes 3A in 6 years..suff to calculate r and hence the required value in the stem can be found out

stat 2: A become 27A in 9 years...same as stat 1 .,,suff

ans D
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Re: A sum of money is invested under compound interest for a few years. Af   [#permalink] 11 Jul 2017, 06:43
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A sum of money is invested under compound interest for a few years. Af

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