A sum of money at compound interest doubles itself in 15 years. It will become eight times of itself in?Options45 years48 yearsNone of these54 years60 years

Question

A sum of money at compound interest doubles itself in 15 years. It will become eight times of itself in?Options45 years48 yearsNone of these54 years60 years
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Solution 1

The problem is about compound interest. We know that the sum of money doubles itself in 15 years. We need to find out when it will become eight times of itself.

Let's break it down:

  1. If the money doubles in 15 years, it means it multiplies by 2^1 in 15 years.
  2. We need to find out when it will 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.
Knowee AI StudyGPT is a powerful AI-powered study tool designed to help you to solv

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