A sum of 12,000 deposited at compound interest
becomes double after 5 years. After 20 years, it will
become
(6) 96,000
(d) 1,92,000
(a) * 48,000
(c) * 1,90,000
WITH STEP-BY-STEP EXPLANATION
Answers
Answered by
2
192,000
the amount in the account doubles every 5 years.
In the first 5 years the amount in the account will be 24,000
After 5 more years (i.e., after 10 years), the amount will double to 48,000
after 15 years it doubles to 96,000; and finally after 20 years it doubles to 96,000 x 2 = 192,000.
Therefore, the correct answer is D.
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