At the rate of compound interest, a sum of money triples in two years. Then in how many years it will become 27 times?
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At the rate of compound interest, a sum of money triples in two years. Then in how many years it will become 27 times?
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6 years
let let the principal be ₹P and rate of interest be r% p.a.
Since the money gets tripled so the amount after 2 years is ₹3P
Therefore,
Now let time taken to make the money 27 times itself be x years.
Therefore,