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Compound Interest

Q1: The least number of complete years in which a sum of money put out at 20% compound interest will be more than doubled is:

A 3

B 4

C 5

D 6

ANS:B - 4

P 1 + 20 n > 2P          6 n > 2.
100 5
Now, 6 x 6 x 6 x 6 > 2.
5 5 5 5
So, n = 4 years.



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