Question

A sum of money becomes double at certain compound rate of interest in n years. In how many years it will become rour times at the same compound rate of interest?

Answer 1

Answer:

Step-by-step explanation:

Formula for this is n2= n1 ^(t2/t1)

n= Number of times

t= years

n2=8 =2^3

n1=2(doubles)

t2=? (we have to find)

t1=5

Applying this in formula

2^3=2^(t2/5)………2 cancelled each other

3=t2/5

t2= 15