The least number of complete years in which a sum of money put out at 20% compound interest will be more than doubled is?

Question

Accepted Answer

∵ P x (1 + 20/100)t > 2P ⇒ (6/5)n > 2 Now, (6/5) x (6/5) x (6/5) x (6/5) > 2 ⇒ 1296/615 > 2 ∴ t = 4 years

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