Question

what is the least number of complete years in which a sum of money at 20% per annum compounded annually will become more than double​

Answer 1

Answer:

Let Principal amount =RsP

formula of compound interest,

Amount =P(1+

m

r

)

mt

Acc. to question,

2P=P(1+

100

20

)

t

⇒2=(1.2)

t

⇒

t=4

solution