Question

Under a compound interest scheme, the amount invested earns 200% of itself as interest in 5 years. In how
many years will the amount become 9 times its initial value?
(a) 20 years
(b) 15 years
(c) 12 years
(d) 10 years

Answer 1

Answer:

in 15 years

the amount will become 9 times it's initial value