Question

Find the least number of complete years in which a sum of money lent out at 20% compound interest will be more than double.

Answer 1

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The least number of complete years in which a sum of money put out at 20% compound interest will be more than doubled is: A. > 2. > 2.

Answer 2

Answer:

P(1+

100

20

)

n

>2P

or (

5

6

)

n

>2

Now (

5

6

×

5

6

×

5

6

×

5

6

)>2

So n=4 years

Step-by-step explanation:

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