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The least number of complete years in which a sum of money put out at 20% compound interest will be more than doubled is:

A. 3

B. 4

C. 5

D. 6

Answer: Option B

Solution(By Examveda Team)

$$\eqalign{ & P{\left( {1 + \frac{{20}}{{100}}} \right)^n} > 2P\,\,\, \Rightarrow \,\,\,{\left( {\frac{6}{5}} \right)^n} > 2 \cr & {\text{Now}},\left( {\frac{6}{5} \times \frac{6}{5} \times \frac{6}{5} \times \frac{6}{5}} \right) > 2 \cr & So,\,n = 4\,{\text{years}} \cr} $$

This Question Belongs to Arithmetic Ability >> Compound Interest

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Comments ( 1 )

  1. Kusum Yadav
    Kusum Yadav :
    5 years ago

    How can it be possible
    Give full explanation

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