A sum of money triples itself in 3 years at compound interest. In how many years will it become 9 times itself ?
A. 4
B. 9
C. 6
D. 7
A. 4
B. 9
C. 6
D. 7
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Correct Answer – C
(i) Use formula for amount and then use laws of indices,
(ii) Let `3P=P(1+(R )/(100))^(3)` find R.
(iii) Let `9P=P(1+(R )/(100))^(n)`, find n.