Exams › SSC CGL (Prelims) › General
A sum of money doubles itself at compound interest in 15 years. In how many years will it become eight times?
- 45
- 40
- 42
- 35
Correct answer: 45
Solution
If the money doubles in 15 years, then each 15-year period multiplies it by 2. To become eight times, it must double three times because \(8=2^3\). Therefore, the required time is \(3\times15=45\) years.
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