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    If a sum of money placed at compound interest doubles itself in 2.5 years. In how many years will it become eight times the original sum at the same r
    Question

    If a sum of money placed at compound interest doubles itself in 2.5 years. In how many years will it become eight times the original sum at the same rate?

    A.

    3.5 years

    B.

    10 years

    C.

    7.5 years

    D.

    8 years

    Correct option is C

    Given:
    A sum becomes 2 times in 2.5 years.
    Formula Used:
    If a sum becomes x times in T years at compound interest, it becomes xn times in n × T years.
    Solution:
    Here, the sum becomes 2 times in 2.5 years.
    We need to find the time for it to become 8 times.
    Since 8 can be written as 23, we have n = 3.
    Required time = 3 × 2.5 = 7.5 years.
    Final Answer
    So the correct answer is (c)

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