A sum of money doubles

Question

A sum of money doubles itself at compound interest in 15 years.in how many years will it become eight times?

Options:

A . 45

B . 48

C . 50

D . 52

Answer: Option A

P(1+R/100)^15=2P
(1+R/100)^15=2P/P=2
LET P(1+R/100)^n=8P
(1+R/100)^n=8=23={(1+R/100)^15}^3
(1+R/100)^n=(1+R/100)^45
n=45

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