Mathematics for FinanceMTP Jun 23Question 1386 of 422
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A certain sum of money amounts to double in $5$ years placed at compound interest. In how many years will it amount to $16$ times at same rate of interest?

Options

A$12$ years
B$20$ years
C$24$ years
DNone of these
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Correct Answer

Option b$20$ years

All Options:

  • A$12$ years
  • B$20$ years
  • C$24$ years
  • DNone of these

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