Multiple Choice Questions on The least number of completed years in which a sum of money put out at 20 C I will be more than doub........... for Mathematics - All Exams Preparation

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Multiple Choice Questions

The least number of completed years in which a sum of money put out at 20 C I will be more than doub...........

Quantitative Aptitude ( CCS) Compound Interest
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    The least number of completed years in which a sum of money put out at 20% C.I. will be more than doubled is

    3

    Incorrect Answer

    4

    Correct Answer

    5

    Incorrect Answer

    6

    Incorrect Answer
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    Explanation:

    P(1+20/100)^n > 2

    P ⇒ (6/5)^n > 2 

    Now, (6/5×6/5×6/5×6/5) > 2 

    So,n=4years.

    Hence, option 2 is the correct answer.

    By: Amit Kumar
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