Question 144

A sum of money placed at compound interest doubles itself in 4 years. In how many years will it amount to four times itself ?

Solution

it is given that A sum of money placed at compound interest doubles itself in 4 years

here we need to make the money 4 times

imagine that we invested Rs P

and hence ,

P becomes 2P in 4 years and so this 2P will become 4P in another 4 years and hence total 8 years are required to make Rs P --> Rs 4P

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