SSC CPO SI and ASI 2013 Paper

Question : 128 of 200

Marks: +1, -0

A sum of money placed at compound interest doubles itself in 5 years, it will amount to eight times of itself in

Solution:

(1)

2 {P}=P (1+ {r}/{100} )^{T}

⇒ 2=1 (1+ {r}/{100} )^{5}

On cubing both sides

2^{3}=1 (1+\ {r}/{100} )^{15}

So the time taken = 15 years

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