Question

At what rate of interest can a sum of money double itself in 4 years?​

Answer 1

Answer:

12 years_ PLEASE ADD ME AS A BRAIN LIST AND FOLLOW MEE PLEASEEEEE

Step-by-step explanation:

A sum of money double itself in 4 years at compound interest.! n how many years it will become eight times at same rate of interest.

A = P ( 1 + R/100 )^T 2x = x ( 1 + R/100 )^4 ( 1 + R/100 ) = 2^1/4 8x = x ( 1 + R/100 )^T 1 + R/100 = 2^1/4 8 = 2^T/4 2^3 = 2^T/4 T/4 = 3 T = 12 years More