8. A sum of money doubles itself at compoundinterest in 15 years. In h

1.	8. A sum of money doubles itself at compoundinterest in 15 years. In how many years it willbecome eight times ?
Answer» If the sum doubles (x2) in 15 years. Then it to become 222 = 8 times as large it should double three times. so three 15 years time period are needed, which is 3*15 = 45 years. So the answer is 45

8. A sum of money doubles itself at compoundinterest in 15 years. In how many years it willbecome eight times ?

Answer»

If the sum doubles (x2) in 15 years.

Then it to become 2*2*2 = 8 times as large it should double three times.

so three 15 years time period are needed, which is 3*15 = 45 years.

So the answer is 45