Question
A sum of money triples itself in 6 years when invested
at a certain rate of compound interest. In how many years will it amount to twenty-seven times itself?Solution
In 6 years = doubles itself =3 Let the amount be sixteen times in ‘x’ years. ATQ- 6 years – 3 times X year – 27 times =33 X =6×3 =18 years.
The wealth distribution in a certain country is described by following Lorenz Function
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The optimal quantity of the Public good to be produced is given by
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The marginal cost of production is MC=0.3x+4, determine the cost involved to increase production from 70 to 100 units.
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