A company publishes to its customers 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?

CMAT - 2020
CMAT

Updated On: Apr 1, 2024

4 years
4.5 years
3 years
3.5 years

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The Correct Option is A

Solution and Explanation

The correct option is (A): 4 years

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List-I	List-II
(A)	Alibi	(I)	This for that
(B)	Ex parte	(II)	Other
(C)	Lex loci	(III)	The law of the place
(D)	Quid pro quo	(IV)	From one side only

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Store	Respective ratio of number of linen kurtis to cotton kurtis sold
A	7:5
B	5:6
C	3:2
D	5:3
E	4:3
F	7:3

A company publishes to its customers 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?

The Correct Option is A

Solution and Explanation

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