Question

. In how many years a certain sum of money
will be doubled at 20% rate of interest?​

Answer 1

Answer:

Apply this relation twice :

(n - 1) x 100 = rt

First : (2 - 1) x 100 = 20r

=> r = 5%

Second : (4 - 1) x 100 = 5t

=> t = 300/5 = 60 years