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If a sum of money doubles itself at a fixed rate of compound interest per annum in years, find in how many years it will become four times.

  1. A
  2. B
  3. C
  4. D

Solution & Step-by-step Explanation

Let the initial sum of money be and the rate of compound interest per annum be .
According to the problem, the sum doubles itself in years:



We want to find the time in which the sum becomes times its original value:



We can express as :



Substitute the value of from Equation 1 into Equation 2:





Comparing exponents on both sides:

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Try it yourself before checking the explanation above.

If a sum of money doubles itself at a fixed rate of compound interest per annum in years, find in how many years it will become four times.
A
B
C
D

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