A sum of money doubles itself at compound interest in 15 years. In how many years it will become eight times?
- 50
- 60
- 45
- None of these
Explanation
Since the sum doubles itself in 15 years, it will quadruple (2 × 2) in 30 years (15 × 2), and become eight times (2 × 2 × 2) in 45 years (15 × 3).
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