Question
The least number of complete years in which a sum of money put out at 20% compound interest will be more than doubled is:
Answer: Option B
- P ( 1 + 20 ) n > 2P ( 6 ) n > 2. 100 5
Now, ( 6 x 6 x 6 x 6 ) > 2. 5 5 5 5
So, n = 4 years.
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- P ( 1 + 20 ) n > 2P ( 6 ) n > 2. 100 5
Now, ( 6 x 6 x 6 x 6 ) > 2. 5 5 5 5
So, n = 4 years.
Was this answer helpful ?
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