Question

The least number of complete years in which a sum of money put out at 20% compound interest
be more than doubled is
a. 3
b. 4.
C. 5​

Answer 1

Answer:

C. 5

my answer is C.5

thank you for question

Answer 2

Answer:

• At least 4 years in which a sum of money will be doubled.

Step-by-step explanation:

Let the number of years be n.

Amount after n years =P(1+20/100)^n

According to the question,

Amount after n years >2 *Principal

P(1+20/100)^n>2P

(1+20/100)^n>2

(6/5)^n>2

Let n=4

Then,

(6/5)^4=2.0736

Hence(6/5)^4>2

So,at least 4 years is required to get an amount that is double of the original principal.