Question

A sum of rupees 12000 deposited at compound interest becomes double after 5 years

Answer 1

12000 (1 + R/100)^5 = 24000

(1+R/100)^5 =2

[ (1+R/100)^5 ]^4 =2^4

(1+R/100)^20 =16

p (1+R/100)^20 =16 p

12000 (1+R/100)^20 =16*12000

=192000