A sum of money becomes double in 9 years by compound interest . In how many years it will become 8 times
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Hence, as the value of 'n' is 15 years, the answer of this question is also 15 years as it is the number of years in which the sum amounts to eight times itself at the same rate of interest. So, the correct answer is “Option C”. Note: Be careful with the equation of CI A = P (1 + R100)n
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