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Question :

Aman invests Rs 4000 in a bank at a certain rate of interest, compounded annually. If the ratio of the value
of the investment after 3 years to the value of the investment after 5 years is 25 : 36, then the minimum
number of years required for the value of the investment to exceed Rs 20000 is

Started 4 hours ago by Admin in

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Answer : 9

Explanatory Answer

 

000×[1+r100]34000×[1+r100]5=2536

Solving this, we get:

1+r100=65r=20%

Now,

4000×[1+20100]n>20000 i.e., 1.2n>5⇒n=9

 

 

The question is "Aman invests Rs 4000 in a bank at a certain rate of interest, compounded annually. If the ratio of the value of the investment after 3 years to the value of the investment after 5 years is 25 : 36, then the minimum number of years required for the value of the investment to exceed Rs 20000 is"

Hence, the answer is '9'
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