The minimum number of half years in which a sum of money kept at 60 compound interest will be quadru...........

Quantitative Aptitude ( CCS) Compound Interest

The minimum number of half years in which a sum of money kept at 60% compound interest will be quadrupled is ?

6 yrs

8 yrs

4 yrs

2.5 yrs

Let us assume Amount be 100 Rs and we calculate in CI

First year 60% of 100 = 60 amount (100+60) is 160

Second year 60% of 160 = 96 amount (160+96) is 256

Third year 60% of 256 =153.6 amount (256+153.6) is 409.6

Here the Amount of 100 Rs is quadrapled in 3 years.

One year contains 2 half years

Three year has 6 half years.

Therefore, It takes 6 half years.

Hence, option 1 is the correct answer.

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