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Rs.100 doubled in 5 years when compounded annually. How many more years will it take to get another Rs.200 compound interest
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.
By: Amit Kumar ProfileResourcesReport error
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