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A finance company declares that, at a ce...

A finance company declares that, at a certain compound interest rate, a sum of money deposited by anyone will become 8 times in three years. If the same amount is deposited at the same compound rate of interest, then in how many year will it become 16 times ?

A

5 years

B

4 years

C

6 years

D

7 years

Text Solution

Verified by Experts

The correct Answer is:
B
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