A sum of money compounded annually doubles itself in 15 years. In how many years will it become 8 times?

Shohan

4 views

2025-01-04 04:42

1 Answers

Shohan

$H e r e, P r i n c i p a l = p; R a t e o f i n t e r e s t = r; T i m e = n$

$∴ C o m p o u n d e d a m o u n t = p {(1 + \frac{r}{100})}^{n}$

$N o w, a c c o r d i n g t o q u e s t i o n, p {(1 + \frac{r}{100})}^{15} = 2 p ∴ {(1 + \frac{r}{100})}^{15} = 2 . . . . . . . . . . . . . . . (i) L e t, n b e t h e n u m b e r o f y e a r s w h e n p r i n c i p a l w i l l b e c o m e 8 t i m e s . ∴ p {(1 + \frac{r}{100})}^{n} = 8 p = {(1 + \frac{r}{100})}^{n} = 8 = (1 + \frac{r}{100}) = 2^{3} = {(1 + \frac{r}{100})}^{n} = {(1 + \frac{r}{100})}^{3 \times 15} = {(1 + \frac{r}{100})}^{n} = {(1 + \frac{r}{100})}^{45} ∴ n = 45 ∴ R e q u i r e d t i m e s 45 y e a r s .$

4 views Answered 2024-12-14 13:31

Related Questions

A sum of money lent out in simple interest amounts to Tk. 720 after 2 years and to Tk. 1,020 after a further period of 5 years. How much money was lent out?

1 Answers 4 Views

What will be the deposited amount at initial stage, if it become to Tk. 33,500 at the end of 5 years, with a simple interest rate of 13.5% per annual? How many years is will take to become Tk. 40,600 of the same deposit amount?

1 Answers 9 Views

Read the following passage and answer the question that bellow. Advertising has become a very specialized activity in modern times. in the business world of today, supply is usually greater than demand. There is great competition between different manufacturers of the same kind of product to persuade customers to buy their own particular brand. they always have to remind the customers of the names and the qualities of their products. They do this by advertising . The manufacturer advertises in the newspapers and posters . He sometimes pays for songs about his product in commercial radio programs. He employs attractive sales-girls to distribute samples of it. He organizes competitions, with prizes for the winners. He often advertises on the screens of local cinemas, most important of all , in countries that have television that will accept them . Manufacturers often spend large sums of money on advertisements. we buy a particular product because we think that it is the best. we usually think so because of the advertisements that say so. some people never pause to ask themselves if the advertisements are telling the truth.Questions: a)Mention the kinds of advertisements you find in the passage.b) Why do manufacturers spend so much money on advertising? c)What do sales-girls do?d) Do you think that we buy goods because they are advertised? e) What is the thing some people do attracted by the advertisements?

1 Answers 5 Views

Mr. Karim borrowed Tk. 500 at 5% simple interest per year. After some time, he borrowed Tk. 400 at 3*1/2 simple interest per year for the second time. Six months after the second time borrowing, he repaid both the borrowed money along with interest and the amount repaid was TK. 994.50. How many years after the first time borrowing Mr. Karim repaid the borrowed money? (Interest)

1 Answers 14 Views

Sakib and Labib individually borrowed different amount of money from a particular bank on the same day at rate of 20% simple interest . The total money paid by Sakib in 3 years as principal plus interest was the same amount Labib paid 2 years as participial plus interest. Find the rating of their individual loan amount. (interest)

1 Answers 8 Views

A, B and C are partners. A whose money has been in the business for 4 months claims 13 the profits; 'B' whose money has been in the business for 6 months claims of the profits. 'C' had Tk. 1,560 in the business for 8 months, how much money did A and B contribute to the business? (Partnership (অংশীদারী কারবার))

1 Answers 4 Views

The difference between a simple interest and annually compounded interest of a principal of 2 years at 8% interest reate is Tk. 12.80. What is the principal amount?

1 Answers 4 Views

Amit deposited some money in a bank, which pays 15% interest per annum compounded yearly. If the bank provides simple interest instead of compound interest, he receives Tk. 2,400 after 2 years. Find the total amount that he received after 2 years. (Interest)

1 Answers 9 Views

A man deposited Tk. 1,000 in a bank at 10% interest rate compounded annually for the first year. The rate increases to 15% in the 2nd year. At the end of the 2nd year, the total amount including interest will become how much?

1 Answers 16 Views

A finance company declares that, at a certain compound interest rate, a sum of money deposited by anyone will become 8 times in 3 years. If the same amount is deposited at the same compound rate of interest, then in how many years will it become 16 times?

1 Answers 4 Views

এক্সাম দিয়ে মেধা যাচাই করুন

Job Preparation (1125)

Admission (754)

এসএসসি (10)

এইচএসসি (5)