Question

Choose the correct answer from the alternatives given.
A sum of money doubles itself at compound interest in 15 years. In how many years it will become eight times?

• A. 30
• B. 45
• C. 50
• D. 60

Answer 1

The correct option is B 45

Always CI increases exponentially

Given,

The sum becomes 2 times in 15 years

i.e, 2 times -------> 15 years

2^3(8 years)-----> $15\times 3$ years

So answer is 45 years