At what rate r of continuous compounding does a sum of money triple in 70 years?

Question

At what rate r of continuous compounding does a sum of money triple in 70 years?

A. About 1.3700%

B. About 1.5700%

C. About 1.7700%

D. About 1.4700%

E. About 1.8700%

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A certain species of virulent bacteria is being grown in a culture. It is observed that the rate of growth of the bacterial population is proportional to the number present. If there were 3000 bacteria in the initial polulation and the number doubled after the first 60 minutes , how many bacteria will be present after 3 hours?

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The rate of decay of a radioactive substance is proportional to the amount of substance present. What is the half life of a radioactive substance if it takes 6 years for one third of the substance to decay??

A. 8.3 years

B. 12.3 years

C. 11.8 years

D. 10.3 years

E. 11.3 years

Explanation / Answer

in 1 hour, population is doubled

As initially we have 3000 bacteria

So, after 1 hour there is 6000 bacteria

After 1 hour again it doubles

So, bacteria becomes 12000

After 1 more hour, that is after 3 hours , bacteria become 24000

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