In How many Years will the Amount become 16 Times

An amount invested in a certain scheme compounded annually doubles in 4 years. In how many years will the amount become 16 times when invested in the scheme.

  1. 12 years
  2. 16 years
  3. 18 years
  4. None of these
Monis Rasool Professor Asked on 27th May 2015 in Maths.
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  • 1 Answer(s)

    Answer: (b) 16 years

    Given that, Invest amount is doubled in = 4 years,
    So after 4 years base amount will be twice of initial amount. After next 4 year (total 8 years) total amount will become 4 times and for next 4 years this amount will be the base amount and so on.
    Therefore, Amount will be four times in 8 years;
    and amount will be 4*2 =8 times in 12 years;
    and 8*2 = 16 times in 16 years.

    Anurag Mishra Professor Answered on 28th May 2015.
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