Question 14
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The least number of complete years in which sum of money put out at 20% compound interest will be more than double is:
- A 3
- B 4 Correct
- C 5
- D 6
Correct Answer: Option B
| 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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