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SANJEET KUMAR

· started a discussion

· 1 Months ago

please elaborate this solution (Question:906577.0)

please elaborate this solution

Question:

An amount becomes twice in 4 years on a certain rate on compound interest. In how much years it will be 16 times on the same rate?

Options:
A) 12
B) 16
C) 24
D) 30
E) 20
Solution:
Ans: (b) It will be 24 times in 4 × 4 = 16 years

Knowledge Expert

· commented

· 1 Months ago

Dear student
Here is a brief explanation;
x becomes 2x in 4 yrs.
2x becomes 4x in next 4 yrs.
2x becomes 8x in next 4 yrs.
2x becomes 16x in yet another 4 yrs.

Thus, x becomes 16x in 4 + 4 + 4 +4 = 16 yrs.

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