A sum of money trebles itself in 8 yrs at compound interest. In how many years will it become 27 times ?

Question

A sum of money trebles itself in 8 yrs at compound interest. in how many years will it become 27 times 

 

Answer 1

8 years, x becomes 3x

8 more years, 3x becomes 9x

8 more years, 9x becomes 27x

 

24 years to achieve growth factor of 27.

Answer 2

trebles means times three

 

8 years: 3 times

16 years: 9 times

24 years: 27 times