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A finance company declares that, at a...

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? (a) 4 years (b) 5 years (c) 6 years (d) 7 years

A

4

B

5

C

6

D

7

Text Solution

Verified by Experts

The correct Answer is:
A
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