Question

a sum of money doubles itself in 3 years at compound interest when the interest is compounded annually in how many years will it amount to 16times of itself

Answer 1

A sum of money doubles itself in 3 years at a simple interest. In howmany years will it amount to 8 timesitself? In how many years will a sum of money double itself at 8% per annum? A certain sum doubles in 7 years undercompound interest, compounded annually....