WBCS.LIVE practice question

A sum of money at compound interest amounts to thrice itself in 3 years. In how many years will it be 9 times itself?

Solve this multiple-choice question and check the correct answer with its explanation below.

Answer options

  1. 6 years
  2. 9 years
  3. 12 years
  4. 15 years

Correct answer and explanation

Correct answer: 6 years

Explanation: āœ… Correct Answer: (A) 6 years šŸ“š Explanation: Step-1: In compound interest, if a sum becomes 'n' times in 't' years, it will become 'nĀ²' times in '2t' years. Step-2: Here, the sum becomes 3 times (n=3) in 3 years (t=3). Step-3: Therefore, it will become 9 times (3Ā²) in 2 x 3 = 6 years.