Least number of complete year sum of put money 20%
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Answer:
sorry I don't know i hope you understand
The total Amount payable (A) is given by the formula:
A=P(1+r/100)^n, where
P=Principal
r=Rate of Interest for the period when the Interest is compounded
The period of compounding is generally a year, but also could be a part of a year. The Interest may be compounded every quarter of the year, or half-yearly. In such cases the Rate of Interest should be adjusted accordingly. The Rate (R) generally given for one year. Therefore, if the compounding period is a quarter then r=R/4, & if the period is 6 months then r=R/2.
n=the total No of periods over which the interest is being compounded.
Again, this has to be adjusted according as the compounding period.
Compounded quarterly, n=4*N, where N is the no of years
Compounded half-yearly, n=2*N
Applying the formula to the given problem:
Total Amount A should be more than double the value of Principal
=> A>2*P
=> P(1+r/100)^n>2*P
=> (1.2)^n>2
Taking logarithms (to the base 10) on both sides,
n*log(1.2)>log 2
=> n>log2/log(1.2)
=> n>0.301/0.0792
=> n>3.8
Hence, it takes at least 4 complete years for a sum of money put out at 20% compound interest to be more than doubled.