Question

a sum of money payable at C.I doubles itself in 5 years .it will amount to 8 times itself in how many years
$need \: step \: \: by \: step$
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Answer 1

Answer:

40 years

Step-by-step explanation:

To double itself, the money needs to earn 100% interest. So:

100% / 5 years=20%/year

To quadruple, the money needs to make 300%, so:

800%/ 20%/year=40 years