A certain amount of money doubles in 6 years under compound interest. How many years will it take for that amount to increase to 8 times its original value?

Explanation

Given: ​ Amount doubles (2x) in 6 years. Concept Used: In Compound Interest, if sum becomes K times in T years, it becomes K n times in nT years. Solution: Target multiplier = 8 times. Express 8 as a power of 2: 8 = 23 Here, n = 3. Required Time = n × T Required Time = 3 × 6 = 18 years. Final Answer 18​