A Sum of money is double in 8 years at r% rate of compound intrest per annum at the same rate. In how many years it will be 4 times of the sum?
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Step-by-step explanation:
A=P(1+
100
R
)
T
2x=x(1+
100
R
)
4
(1+
100
R
)=2
1/4
8x=x(1+
100
R
)
T
∵1+
100
R
=2
1/4
∴8=2
T/4
2
3
=2
T/4
4
T
=3
T=12years
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