A sum of money doubles in 3 years at compound interest, compounded annually. It will become 4 times

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6.Interest

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A sum of money doubles in $3$ years at compound interest, compounded annually. It will become $4$ times of itself in

A

$12$

B

$9$

C

$8$

D

$6$

Solution

Let the sum of money be Rs. 100

$\text { Rs. } 100 \longrightarrow \text { years }, 200 \longrightarrow \text { years }, \text { Rs. } 400$

Here, Rs. 100 becomes 4 times i.e. Rs. 400 in total 6 years

Standard 13

Quantitative Aptitude

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