Correct option is A
Amount doubles in 15 years
So in 15 years → ×2
In 30 years → ×4
In 45 years → ×8
…
We need ×256 = 2⁸
So time = 8 × 15 = 120 years
The amount doubles itself under Compound interest in 15 years. In how many years will it become 256 times of itself at the same rate of interest?
Amount doubles in 15 years
So in 15 years → ×2
In 30 years → ×4
In 45 years → ×8
…
We need ×256 = 2⁸
So time = 8 × 15 = 120 years
Suggested Test Series
Suggested Test Series
Navjot invested a sum of ₹48,800 at 10% per annum for 1 year on compound interest (interest is compounded half-yearly). Find the amount received by him.
Simple interest of ₹375 is obtained on a sum of money for a period of 3 years at a rate of 2% per annum. Find the sum (in ₹).
The amount doubles itself under Compound interest in 15 years. In how many years will it become 256 times of itself at the same rate of interest?