A certain sum of money doubles itself in 8 years. In how much time will it become 4 times of itself at the same rate of interest?
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interest become principal in 8 year, so principal is doubled
P =(P×R×8)/100
⇒R= 100/8 %
now,
it becomes 4 times,
3P = (P×(100/8)×T)/100
⇒T =24 years
interest become principal in 8 year, so principal is doubled
P =(P×R×8)/100
⇒R= 100/8 %
now,
it becomes 4 times,
3P = (P×(100/8)×T)/100
⇒T =24 years
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