Practicing Success

Target Exam

CUET

Subject

General Test

Chapter

Numerical Ability

Topic

Compound Interest

Question:

If a certain sum of money becomes 49 times of itself in 17 years. In how many years it will become 343 times of it self?

Options:

34 years

29.5 years

25.5 years

24 years

Correct Answer:

25.5 years

Explanation:

Let the sum = P

ATQ,

49P = P(1 + \(\frac{R}{100}\))17 .... (i)

343P = P(1 + \(\frac{R}{100}\))T 

from eq. (i) ⇒

(49)\(\frac{1}{17}\) = (1 + \(\frac{R}{100}\))

343 = (49)\(\frac{T}{17}\) 

73 = (72)\(\frac{T}{17}\) 

73 = (7)\(\frac{2T}{17}\)  ⇒  \(\frac{2T}{17}\) = 3

T = \(\frac{51}{2}\) = 25.5 years