. A sum of money lent out at C.I. at a certai
rate per annum becomes three times of itse
in 10 years. Find in how many years will the money becomes 20 times. pa
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Step-by-step explanation:
On interest being compounded for 8 years, Amount=P(1+100R)N
=>3P=P(1+100R)8
=>3=(1+100R)8 --- (1)
On interest being compounded for n years, Amount=P(1+100R)N
=>27P=P(1+100R)n
=>27=(1+100R)n
=>33=(1+100R)n --- (2)
Putting the value of 3 from eqn 1 in eqn 2, we get
=>((1+100R)8)3=(1+100R)n
(1+100
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