In how many years will a sum of money become double at 5% p.a compound interest

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Compound Interest

A sum of mone...

Question

A

15

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B

10

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C

20

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D

12

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Solution

The correct option is B 10
Let sum = x

Then, 2x=x[1+R100]5

[1+R100]=21/5 ... (i)

4x=x[1+R100]T

4=[21/5]T

22=2T/5

T5=2

T=10yrs.


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