A certain investment placed at compound interest becomes 3 times its original value in 4years. In how many years will it grow to become 27 times the original amount?
(a) 36 years
(b) 22 years
(c) 12 years
(d) 8 years
Correct Answer : Option c
Since the amount triples every 4 years, and:
27 = 33
It will take:
4 × 3 = 12 years
Hence, option c is correct.
