Question

An amount becomes 4 times in 6 years. In how many years will it become 64 times if the rate of interest remains unchanged?

(1 Point)

a. 24 years

b. 18 years

c. 16 years

d. 12 years

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Answer 1

Step-by-step explanation:

A = P * ( 1 + RT/100)

4x = x * ( 1 + 6R/100)

4 = (1 + 6R/100)-----(1)

And

64x = x * (1 + RT/100)

64 = ( 1 + RT/100)

(4)³ = (1 + RT/100)

(1 + 18R/100)= (1 + RT/100)

from Comparing

T = 18 years

So , The amount will become 64 times in 18

years .