Exams › SSC CGL (Prelims) › General
A certain amount triples its initial value after 8 years of compound interest. How many years will it take to grow to eighty-one times its original amount?
- 24
- 30
- 32
- 36
Correct answer: 32
Solution
If the amount triples in 8 years, then after 8 years the factor is 3. To become 81 times, we need 81 = 3^4, so it takes 4 such periods. Therefore, the total time is 4 × 8 = 32 years.
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