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
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`P(1 + 20/100)^n > 2P`
or `(6/5)^n > 2`
Now , `(6/5 xx 6/5 xx 6/5 xx 6/5) > 2`
so, n = 4 years.
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