Question

Rs.100 doubled in 5 years when compounded annually. How many more years will it take to get another Rs.200 compound interest

A) 3years B) 5years C) 6years D) 7years

Answer 1

Answer:

Rs.100 invested in compound interest becomes Rs.200 in 5 years. The amount will double again in another 5 years. i.e., the amount will become Rs.400 in another 5 years. So, to earn another Rs.200 interest, it will take another 5 years.

B.5 years