SSC MTS 2 Aug 2019 Shift 3 Paper

Question : 33 of 100

Marks: +1, -0

A sum of money becomes 3 times in 10 years at the rate of compound interest (compounded annually). In how many years will it become 81 times?

Solution:

Tips & Tricks

\A=\P(1+\r/100)^\t

⇒

3\P=\P(1+\r/100)^10

⇒ 3 =

(1+\r/100)^10

−−−−(1)
⇒

81\P=\P(1+\r/100)^\n

⇒

3^4=(1+\r/100)^\n

−−−−(2)
From (1) and (2)
⇒

(1+\r/100)^{10×4}=(1+\r/100)^\n

⇒ n = 40 years
∴ A sum of money becomes 81 times in 40 years.

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