A sum of money placed at compound interest doubles itself in 5 years. in how many years it would be 8 times of itself at the same rate of interest?
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let the sum be x
hence amount be 2x
since it doubles in 5 years so it would take same time to triple itself.
thus it would take 15 years to get 8 times of itself
hence amount be 2x
since it doubles in 5 years so it would take same time to triple itself.
thus it would take 15 years to get 8 times of itself
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