Multiple Choice Questions

A sum of Rs7 000 deposited at compound interest becomes triple of itself after 4 years How much will...........

Quantitative Aptitude (MTS) Compound Interest

A sum of Rs7,000 deposited at compound interest becomes triple of itself after 4 years. How much will the amount be after 12

years?

This questions was previously asked in

SSC MTS 21st July 2022 Shift-3

Rs49,000

Rs63,000

Rs1,89,000

Rs84,000

- Initial Deposit: Rs7,000 is the initial deposit.

- Tripling Time: The amount triples in 4 years.

- Amount After 4 Years: Rs7,000 becomes Rs21,000 after 4 years.

- Compounding Periods: This is a compound interest problem.

- Doubling of Amount Every 4 Years: Since Rs7,000 becomes Rs21,000 in 4 years, we estimate the same rate for further compounding.

- Amount After 8 Years: Rs21,000 triples again to become Rs63,000.

- Amount After 12 Years: Rs63,000 triples again to become Rs1,89,000.

Option 3: Rs1,89,000 is the correct answer.

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