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CAT 2024 Slot 3 QA Question 6

Type-in-the-answer (no negative marking) · Arithmetic · Simple & Compound Interest · Try it, then check the answer and solution below.

CAT 2024 Slot 3QAArithmetic • Simple & Compound InterestModerate
Aman invests Rs 4000 in a bank at a certain rate of interest, compounded annually. If the ratio of the value of the investment after 3 years to the value of the investment after 5 years is $25: 36 , then the minimum number of years required for the value of the investment to exceed Rs 20000 is
TITA Answer:
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Answer and solution

Answer: 9

📌 Core Concept
The problem involves compound interest, calculated using the formula: $A=P×(1+r100)tA = P \times (1 + \frac{r}{100})^t where AA is the amount, PP is the principal, r$ is the annual interest rate, and $t is the time in years.
🔢 Step-by-Step Solution
1
Given Data:
Principal P=4000P = 4000 Rs
Ratio of amounts after 3 and 5 years: \( A3A5\frac{A_3}{A_5} = \frac{2

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