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Question 70
A sum of money placed at compound interest doubles itself in S years. It will amount to eight times Itself at the same rate of interest in
Solution
Formula for this is n2= n1 ^(t2/t1)
n= Number of times
t= years
n2=8 =2^3
n1=2(doubles.........given)
t2=?
t1=5
Applying this in formula
2^3=2^(t2/5)Â…Â…Â…2
3=t2/5
t2= 15
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