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SSC Sample Paper SSC CGL - Sample Paper-28

  • question_answer
    A sum of money doubles itself at compound interest in 15 yr. In how many years will it become eight times?

    A) 30                                

    B) 45       

    C) 50                                

    D) 60

    Correct Answer: B

    Solution :

    We know that a certain sum of money becomes n times in t years when compounded annually. It will become \[{{n}^{x}}\] times at the same rate of compound interest in xt years. \[\because \] A sum of money doubles itself at compound interest in 15 yr, \[\therefore \] It will becomes 8 times in \[15\times 3\,yr\] i.e., in 45 yr.


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