Question

sum of money double itself in 3 years at compound interest in how many years does it become 16 times itself​

Answer 1

Answer:

Step-by-step explanation:

Let the principal be p and rate percent be r.

ATP,

p(1+r/100)^3=2p

(1+r/100)^3=2

(1+r/100)=2^(1/3)

Let it become 16 times in t years

Now,

p(1+r/100)^t=16p

(1+r/100)^t=16

Substituting value of (1+r/100),

2^(1/3)(t)=2^4

Since bases are equal powers will also be equal

t/3=4

t=12

Thus, the sum becomes 16 times in 12 years.