A sum of money becomes 27 times of itself in 18 years at compound interest. How much times will it become in 30 years? |
243 times 216 times 144 times 81 times |
243 times |
ATQ, P = 1 → 18yr → 27 or 33 (Amount) ↓ ↓ ×1/3 cube-root* ↓ ↓ P = 1 → 6yr → (3)1 = 3 ↓ ↓ ×5 power 5* ↓ ↓ P = 1 → 30yr → (3)5 = 243 ⇒ So, in 30 years it becomes 243 times
OR Amount = P (1+ \(\frac{r}{100}\))t ATQ, ⇒ 27P = P (1+ \(\frac{r}{100}\))18 ⇒ 27 = (1+ \(\frac{r}{100}\))18 ⇒ (3)3 = (1+ \(\frac{r}{100}\))18 ⇒ 3 = (1+ \(\frac{r}{100}\))6 ⇒ (3)5 = (1+ \(\frac{r}{100}\))30 ⇒ 243 = (1+ \(\frac{r}{100}\))30 ⇒ So, in 30 years it becomes 243 times. |