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Question
A sum of money placed at compound interest doubles itself in 4 years. It will amount to eight times itself at the same rate in
A sum of money placed at compound interest doubles itself in 4 years. It will amount to eight times itself at the same rate in
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Solution
The correct option is C 12 years
Re 1 becomes Rs 2 in 4 years
Rs 2 becomes Rs 4 in another 4 years
Rs 4 becomes Rs 8 in another 4 years
⇒ Re 1 becomes Rs 8 in (4 + 4 + 4) i.e., 12 years.
Re 1 becomes Rs 2 in 4 years
Rs 2 becomes Rs 4 in another 4 years
Rs 4 becomes Rs 8 in another 4 years
⇒ Re 1 becomes Rs 8 in (4 + 4 + 4) i.e., 12 years.
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