general math MCQ #327

A sum of money placed at compound interest doubles itself in 5 years in how many years it would to 8 times of itself at the same rate of interest?

general math MCQ #327

  1. Question 1

    Q1. A sum of money placed at compound interest doubles itself in 5 years in how many years it would to 8 times of itself at the same rate of interest?

    • A) 7 years
    • B) 10 years
    • C) 15 years
    • D) 20 years

    Answer: 15 years

    Explanation: If money doubles in 5 years, it increases 8-fold (2³) in 3×5 = 15 years.