At what rate percent compound interest does a sum of money becomes nine-times in 2 years, compounded annually.
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At what rate percent per annum of compound interest, will a sum of money become four times of itself in two years?
A) 100.00%
B) 75.00%
C) 50.00%
D) 20.00%
Correct Answer:
A) 100.00%
Description for Correct answer:
Principal Amount
1→ 4
4=1(1+r100)2
4=(1+r100)2
r = 100 %
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