If a sum of money placed at compound interest | vedclass

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Question

(c) Let the principal be ₹1.

$	herefore \quad A=P\left(1+\frac{R}{100}ight)^{T}$

$\Rightarrow \quad 2=1\left(1+\frac{R}{100}ight)^{5}$

C

Vedclass · Accepted Answer

$15$

Vedclass · Answer

(c) Let the principal be ₹1.

$	herefore \quad A=P\left(1+\frac{R}{100}ight)^{T}$

$\Rightarrow \quad 2=1\left(1+\frac{R}{100}ight)^{5}$

Cubing both sides,

$2^{3}=\left(1+\frac{R}{100}ight)^{5 	imes 3}$

$\Rightarrow \quad 2^{3}=\left(1+\frac{R}{100}ight)^{15}$

$	herefore \quad$ Time $=15$ years

If a sum of money placed at compound interest, compounded annually, doubles itself in $5$ years, then the same amount of money will be $8$ times of itself in (In $years$)

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