Discussion
The sum of money at compound interest amounts to thrice itself in 3 years. In how many years will it be 9 times itself?
Answer: D
Compound growth multiplies, so tripling twice gives a ninefold increase.
\[ \left(1 + \frac{R}{100}\right)^{3} = 3 \]
\[ \left(1 + \frac{R}{100}\right)^{6} = 3^{2} = 9 \]
So it takes 6 years, and the rate is never needed. Under simple interest the answer would be 12 years instead, because there the growth is additive rather than multiplicative.
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