A sum of money lent 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.
Asked by | 7th Jul, 2013, 08:50: AM
Expert Answer:
Let the sum of money be Rs P and the rate of interest be r % p.a.
Amount at the end of 8 years = Rs 3P
.png)
Let the sum of money be Rs P and the rate of interest be r % p.a.
Amount at the end of 8 years = Rs 3P
Answered by | 7th Jul, 2013, 10:24: PM
Kindly Sign up for a personalised experience
- Ask Study Doubts
- Sample Papers
- Past Year Papers
- Textbook Solutions
Sign Up
Verify mobile number
Enter the OTP sent to your number
Change