Syntel Company Numerical Ability Simple & Compound Interest

Find the rate of compound interest if an amount doubles in 4 years.

Read Solution (Total 1)

If x is principal and 2x is amount after 4 yrs @ r% compound interest, then
2x= x*(1+r/100)^4
(1+r/100)^4= 2
1+r/100 = 4th root of 2 = 1.189
r/100 = 0.189
r= 18.9%
12 years agoHelpfull: Yes(5) No(0)

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