Rs 100 doubled in 5 years when compounded annually How many more years will it take to get another R......

Quant ( MASTER) Compound Interest Add to Study Deck

Rs.100 doubled in 5 years when compounded annually. How many more years will it take to get another Rs.200 compound interest

3 yrs

5 yrs

7 yrs

9 yrs

Explanation:

Rs.100 invested in compound interest becomes Rs.200 in 5 years.

The amount will double again in another 5 years.

i.e., the amount will become Rs.400 in another 5 years.

So, to earn another Rs.200 interest, it will take another 5 years.

Hence, option 2 is the correct answer.

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