A sum becomes 8 times of itself in 7 years at the rate of compound interest (interest is compounded annually). In how many years will the sum becomes 4096 times of itself?

A sum becomes 8 times of itself in 7 years at the rate of compound int

1.	A sum becomes 8 times of itself in 7 years at the rate of compound interest (interest is compounded annually). In how many years will the sum becomes 4096 times of itself?
A.	28
B.	24
C.	56
D.	16
Answer» B. 24

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A sum becomes 8 times of itself in 7 years at the rate of compound interest (interest is compounded annually). In how many years will the sum becomes 4096 times of itself?

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