The least number of complete years in which a sum of money put out at 20% C.I.

Question

The least number of complete years in which a sum of money put out at 20% C.I. will be more than doubled is?

Options:

A . 3

B . 4

C . 5

D . 6

Answer: Option B

P(1 + 20/100)ⁿ > 2P or (6/5)ⁿ > 2 Now, (6/5 * 6/5 * 6/5 * 6/5) > 2. So, n = 4 years.

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