The principal amount and the interest rate is same in both cases.
Therefore,
2P=P(1+r100)n, here P is the principal, r is the rate of interest and n is the time period.
⇒2=(1+r100)3
⇒1+r100=213……(1)
Assume the money becomes 16 times itself in n years.
⇒16P=P(1+r100)n
⇒1+r100=24n……(2)
From (1) and (2)
213=24n
⇒13=4n
⇒n=12 years