A finance company declares that, at a certain compound interest rate, a sum of m

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A finance company declares that, at a certain compound interest rate, a sum of money deposited by anyone will become 8 times in 3 years. If the same amount is deposited at the same compound rate of interest, then in how many years will it become 16 times ?

Options:

A . 4 years

B . 5 years

C . 6 years

D . 7 years

Answer: Option A

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