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Aptitude | Compound Interest | Question 4

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Sagar 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



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Last Updated : 28 Jun, 2021
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