A sum of money placed at compound interest

It will amount to eight times itself at the same rate in. A sum of money placed at compound interest doubles itself in 4 years. Q. A . A sum of money doubles itself in 3 years at compound interest, when the interest is compounded abc-baltin.de how many years will the sum amount to 16 times of itself? If we use our money smartly. Money is an essential aspect of life that we can’t take for granted in the society we live in today. Money can enrich our lives and put us into a position to enrich others. If a sum of money placed at compound interest doubles itself in 5 years, then the same amount of money will be 8 times of itself in. It will amount to eight times itself at the same rate of interest in: A. 7 years B. 10 years C. 15 years D. 20 years Answer Verified k + views. Compound Interest Answer A sum of money placed at Compound Interest (C.I.) doubles itself in 5 years. It will amount to eight times itself at the same rate of interest in: A. 7 years B. 10 years C. 15 years D. 20 years Answer Verified k + views. Compound Interest Answer A sum of money placed at Compound Interest (C.I.) doubles itself in 5 years. It will amount to eight times itself at the same rate in A 9 years B 10 years C 12 years D 14 years Medium Solution . A sum of money placed at compound interest doubles itself in 4 years. where A = amount. Given: A sum of money placed at compound interest doubles itself in 8 years. Formula used: A = P(1 + R/)n. The difference between simple interest and compound interest is that simple interest builds only on the principal amount, while compound interest builds on both the principal and previously earned int.

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