A sum of money at compound interest doubles itself in 15 years. It will become eight times of itself in?Options45 years54 yearsNone of these60 years48 years
Question
Solution 1
The problem is about compound interest. We know that the sum of money doubles itself in 15 years. This means that the money is multiplied by 2 in 15 years.
We want to find out when the money will be multiplied by 8. Since 8 is 2^3, we can say that the money will be multiplied by 8 in 3 times the p Knowee AI StudyGPT is a powerful AI-powered study tool designed to help you to solve study prob
Knowee AI StudyGPT is a powerful AI-powered study tool designed to help you to solve study problem.
Knowee AI StudyGPT is a powerful AI-powered study tool designed to help you to solve study problem.
Knowee AI StudyGPT is a powerful AI-powered study tool designed to help you to solve study problem.
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