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(CSAT-Aptirudeat) 8 annual compound interest rate a Government savings certificate doubles...

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Banking and Financial Institutions
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(CSAT-Aptirudeat) 8% annual compound interest rate, a Government savings certificate doubles the invested money in approximate 9 years. If finance minister wants to get the money doubled in only 4 years, by approximately what percentage he should increase this scheme's interest rate from its present rate?

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Correct Answer: Option D
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