A sum of money at compound interest doubles itself in 15 years. It will become eight times of itself in
Answer & explanation
Correct answer: option 1
With compound interest , in 15 years
A : P = 2 : 1
After n years with same rate ,
A : P = 8 : 1
= 2³ : 1
So , number of years i.e. n = 15 × 3 = 45 years
The correct answer is option (1) : 45 years