Question:
Investment of ₹ 4,000 at \(R\%\) per annum compounded annually becomes 16,000 in 8 years. If 2,000 is invested at \(R\%\) per annum compounded annually, then in how many years will the investment become 16,000?
Investment of ₹ 4,000 at \(R\%\) per annum compounded annually becomes 16,000 in 8 years. If 2,000 is invested at \(R\%\) per annum compounded annually, then in how many years will the investment become 16,000?
Updated On: Oct 22, 2024
- 8
- 10
- 12
- 14
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The Correct Option is C
Solution and Explanation
The correct answer is (C): 12
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