At what rate of interest can a sum of money double itself in 4 years?
Answers
Answered by
0
Correct option is A)
A=P(1+
100
R
)
T
2x=x(1+
100
R
)
4
(1+
100
R
)=2
1/4
8x=x(1+
100
R
)
T
∵1+
100
R
=2
1/4
∴8=2
T/4
2
3
=2
T/4
4
T
=3
T=12years
Answered by
0
Answer:
Step-by-step explanation:
Simple Thumb rule :
72/4 = 18%
Another way is to solve the equation :
2P = P(1 + r)^4
=> 2 = (1 + r)^4
Further calculation is not that simple except hit and trial method.
=> r = 0.1872
=> r = 18.72% ( approx )
:-)
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