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A sum of money doubles in 3 years at compound interest, compounded annually at the same rate. It will become 4 times itself in _____?
  1. 5 years
  2. 4 years
  3. 6 years
  4. None of these
Explanation

The sum of money doubles in 3 years, which means it becomes 2 times itself.

Since it's compounded annually at the same rate, the interest rate is consistent.

To become 4 times itself, it needs to double twice more (2 × 2 = 4).

Since it doubles every 3 years, it will double twice more in 2 × 3 = 6 years.


So, the correct answer is: 6 years

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