Question

If a sum of money doubles itself at compound interest in n years, find in how many years will it become eight times.​

Answer 1

Answer:the time of the interest is fix as N so in 3N it will become the the 8 times the principal amount

If a sum of money doubles itself at compound interest in n years

if the deposited money take as X

the next time period it will 2X(tell me in the question)

the next time period it will be 4x( beacous compound interest in n years,)

so the third time period it will be 8x

logically thinking

so intrest = 100%

so intrest = 100%so after one year the deposited amount is added again

so intrest = 100%so after one year the deposited amount is added againso

so intrest = 100%so after one year the deposited amount is added againso in thrid time period will be 8 times the principal amount( If a sum of money doubles itself at compound interest in n years)

the time of the interest is fix as N so in 3N it will become the the 8 times the principal amount