A sum of money placed at compound interest doubles itself in 5 years. It will amount to eight times

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6.Interest

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A sum of money placed at compound interest doubles itself in $5$ years. It will amount to eight times itself at the same rate of interest in (In $years$)

A

$10$

B

$20$

C

$12$

D

$15$

Solution

(d) Principal $\rightarrow 2$ principal in 5 years. $2 P \rightarrow$ AP in 5 years.

$4 P \rightarrow 8 P$ in 5 years.

$\therefore$ It takes 15 years to become 8 times of principal.

Standard 13

Quantitative Aptitude

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