Question

A sum of money placed at compound interest doubles itself in 3 years. in how many years will it amount to 8 times itself?​

Answer 1

Answer:

2 times in 3 years

8 times.......6yrs

Answer 2

Answer:

Let the money placed at compound interest to be x.

After 3 years, it become 2x

Again after 3 years, It will become double the before, therefore 4x

After 3 years again, it will become double the before, therefore 8x

so total time taken by it to 8 times itself is 9 years....

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