Question

A sum of 12,000 deposited at compound interest
becomes double after 5 years. After 20 years, it will
become
(a) 48,000
(c) 1,90,000
(b) 96,000
(d) 1,92,000
with STEP—BY—STEP EXPLANATION​

Answer 1

Answer:1,92,000

Step-by-step explanation:

The formula for the compound interest is -

$p(1 + \frac{r}{100})t$

Using this formula, we get the total amount

Here, P = 12000, R = R and T = 5.

Now, we need to calculate the amount after 20 years.

So, Amount = $12000(1+\frac{r}{100} )20$

As we know the value of , so breaking 20=5×420=5×4

= $12000((1+\frac{r}{100} )^{5} )^{4}$

= $12000(2)^{4}$

= 12000×16

= 192000