A sum of money becomes eight times in 3 years, If the rate is compounded annuall

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A sum of money becomes eight times in 3 years, If the rate is compounded annually. In how much time will the same amount at the same compound rate become sixteen times ?

Options:

A . 6 years

B . 4 years

C . 8 years

D . 5 years

Answer: Option B

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