A sum of money becomes double in 3years at compound Interest compounded annually. At the same rate, in how many years will it become four times of itself
1). 4 years
2). 6 years
3). 6.4 years
4). 7.5 years
A = P ($1+\frac{R^{T}}{100}$)
Let P. , A = 2
2 = 1($1+\frac{R^{3}}{100}$)
On squaring both sides.
4 = 1 ($1+\frac{R^{6}}{100}$)
Time = 6 years