Aptitude | Compound Interest | Question 4

Ram has a sum of Rs.8000. He lends it for 20% per annum at compound interest. In how much time the sum of the amount will be Rs.13824?

**(A)** 2

**(B)** 1

**(C)** 3

**(D)** 4

**Answer:** **(C)** **Explanation:** 3824 = 8000 x (1 + 20/100)^{n}

13824/8000 = (120/100)^{n}

(24/20)^{3} = (12/10)^{n}

(12/10)^{3} = (12/10)^{n}

=> n = 3 years

Quiz of this Question

Please comment below if you find anything wrong in the above post