Question

If a sum of money placed at compound interest, compounded annually, doubles itself in 5 years, then the same amount of money will be 8 times of itself in

• A. 26 years
• B. 20 years
• C. 15 years
• D. 10 years

Answer 1

Answer:

C. 15 years

Read Explanation:

2³=8. Time=3x5 years = 15 years.

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