Question

Find the minimum number of complete years required so that the sum of money put out at 20
more than double
compound interest will be
Select one:
a. 2 Year
b. 1 Year
C. 4 Year
d. 3 Year​

Answer 1

Answer:

Correct option is

B

4

P(1+

100

20

)

n

>2P⇒(

5

6

)

n

>2.

Now, (

5

6

×

5

6

×

5

6

×

5

6

)>2.

So, n=4 years.