Discussion

Explanation:

Amount due =P1+r100t

2P=P1+r10022=1+r1002

Now, the amount has to quadruple at same rate of interest.

8P=P1+r100t8=1+r100t23=1+r100t1+r10023=1+r100t1+r1006=1+r100t

⇒ t = 6 years.

Alternately,

For CI, since amount doubles in 2 years, it means the amount will double every 2 years.

For the amount to become 8 (= 2³) times, it has to double 3 times. Hence, time required = 2 + 2 + 2 = 6 years.

Hence, option (c).

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