self Maths Puzzle

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

Read Solution (Total 1)

P(1+R100)n>2P
(1+20100)n>2
(65)n>2
65×65×65×65>2

So answer is 4 years
11 years agoHelpfull: Yes(0) No(1)

self Other Question

What will be the compound interest on a sum of Rs. 25,000 after 3 years at the rate of 12 p.c.p.a.?

A. Rs. 9000.30 B. Rs. 9720
C. Rs. 10123.20 D. Rs. 10483.20 Albert invested an amount of Rs. 8000 in a fixed deposit scheme for 2 years at compound interest rate 5 p.c.p.a. How much amount will Albert get on maturity of the fixed deposit?

A. Rs. 8600 B. Rs. 8620
C. Rs. 8820 D. None of these