A sum of money doubles itself in 7 years. In how many years it becomes four fold?
Question
A sum of money doubles itself in 7 years. In how many years it becomes four fold?
Solution
1. Break Down the Problem
To determine how many years it takes for a sum of money to become four times its original amount when it is known that it doubles in 7 years, we can follow this logic:
- If the money doubles in 7 years, we need to find out how many periods of 7 years it takes until the money quadruples (becomes four times).
2. Relevant Concepts
- Doubling Period: Given as 7 years.
- Quadrupling is essentially doubling the amount twice.
3. Analysis and Detail
-
First Doubling:
- After 7 years, the amount will be the original amount.
-
Second Doubling:
- After another 7 years (total of 14 years), the amount will be original) = original amount.
4. Verify and Summarize
Once we carry out the steps above, we find out that the sum of money becomes fourfold in 14 years.
Final Answer
It will take 14 years for the sum of money to become four times its original amount.
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