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The time by which a sum of money would treble itself at 8% p.a. C.I is (a) 14.28 years (b) 14 years (c) 12 years (d) none of these?
Most Upvoted Answer
The time by which a sum of money would treble itself at 8% p.a. C.I is...
Solution:
Given,
Rate of interest (r) = 8% p.a.
Let the sum be P, then the amount after n years at compound interest will be A = P(1 + r/100)^n
To find the time taken for the sum to treble itself, we need to find n such that A = 3P
Therefore,
3P = P(1 + r/100)^n
On simplification, we get
1 + r/100 = (3)^(1/n)
Taking logarithms on both sides, we get
log(1 + r/100) = log(3)/n
or,
n = log(3)/(log(1 + r/100))
Substituting the given values, we get
n = log(3)/(log(1 + 8/100))
n = log(3)/log(1.08)
n = 12.04 years (approx)
Therefore, the time by which a sum of money would treble itself at 8% p.a. C.I is approximately 12 years.
Hence, the correct option is (c) 12 years.
Given,
Rate of interest (r) = 8% p.a.
Let the sum be P, then the amount after n years at compound interest will be A = P(1 + r/100)^n
To find the time taken for the sum to treble itself, we need to find n such that A = 3P
Therefore,
3P = P(1 + r/100)^n
On simplification, we get
1 + r/100 = (3)^(1/n)
Taking logarithms on both sides, we get
log(1 + r/100) = log(3)/n
or,
n = log(3)/(log(1 + r/100))
Substituting the given values, we get
n = log(3)/(log(1 + 8/100))
n = log(3)/log(1.08)
n = 12.04 years (approx)
Therefore, the time by which a sum of money would treble itself at 8% p.a. C.I is approximately 12 years.
Hence, the correct option is (c) 12 years.
Community Answer
The time by which a sum of money would treble itself at 8% p.a. C.I is...
A option ..
calculator trick:-
8÷100+1=√19 times -1×227695= m+
3√19 times -1×227695= ÷ mrc = 14.28 answer
calculator trick:-
8÷100+1=√19 times -1×227695= m+
3√19 times -1×227695= ÷ mrc = 14.28 answer
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The time by which a sum of money would treble itself at 8% p.a. C.I is (a) 14.28 years (b) 14 years (c) 12 years (d) none of these?
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The time by which a sum of money would treble itself at 8% p.a. C.I is (a) 14.28 years (b) 14 years (c) 12 years (d) none of these? for CA Foundation 2024 is part of CA Foundation preparation. The Question and answers have been prepared according to the CA Foundation exam syllabus. Information about The time by which a sum of money would treble itself at 8% p.a. C.I is (a) 14.28 years (b) 14 years (c) 12 years (d) none of these? covers all topics & solutions for CA Foundation 2024 Exam. Find important definitions, questions, meanings, examples, exercises and tests below for The time by which a sum of money would treble itself at 8% p.a. C.I is (a) 14.28 years (b) 14 years (c) 12 years (d) none of these?.
The time by which a sum of money would treble itself at 8% p.a. C.I is (a) 14.28 years (b) 14 years (c) 12 years (d) none of these? for CA Foundation 2024 is part of CA Foundation preparation. The Question and answers have been prepared according to the CA Foundation exam syllabus. Information about The time by which a sum of money would treble itself at 8% p.a. C.I is (a) 14.28 years (b) 14 years (c) 12 years (d) none of these? covers all topics & solutions for CA Foundation 2024 Exam. Find important definitions, questions, meanings, examples, exercises and tests below for The time by which a sum of money would treble itself at 8% p.a. C.I is (a) 14.28 years (b) 14 years (c) 12 years (d) none of these?.
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