A sum of money placed at compound interest (compounding annually) doubles itself in 10 years. find the time in which it will amount to 4 times itself.
Question: A sum of money placed at compound interest (compounding annually) doubles itself in 10 years. find the time in which it will amount to 4 times itself. Answer: 20 years Solution:Time is directly proportional to amount.As amount is doubled in 10 years so amount will 4 times in next 10 years.