A sum of money placed at compound interest doubled itself in 3 years. How many times it becomes in 9 years?Choose the best optionClear Response610812
Question
Solution 1
The problem states that the sum of money doubles in 3 years due to compound interest. This means that every 3 years, the sum of money multiplies by 2.
So, in 9 years, which is 3 sets of 3 years, the sum of money would multiply by 2 three times.
Mathematically, this is 2 (after 3 years) * 2 (after Knowee AI StudyGPT is a powerful AI-powered study tool designed to help you to solve study prob
Knowee AI StudyGPT is a powerful AI-powered study tool designed to help you to solve study problem.
Knowee AI StudyGPT is a powerful AI-powered study tool designed to help you to solve study problem.
Knowee AI StudyGPT is a powerful AI-powered study tool designed to help you to solve study problem.
Knowee AI StudyGPT is a powerful AI-powered study tool designed to help you to solv
Similar Questions
A sum of money placed at compound interest doubled itself in 3 years. How many times it becomes in 9 years?Choose the best optionClear Response610812
A sum of money doubles itself in 5 years at compound interest. In how many years will it become 8 times?
A sum of money at compound interest doubles itself in 15 years. It will become eight times of itself in?Options45 years48 yearsNone of these54 years60 years
A sum of money is doubled in 7 years at the compound interest rate. In how many years it will be8 times its actual value
A sum of money doubles itself in 5 years at compound interest. In how many years will it become 8 times? Options 10 years 20 years 15 years 25 years