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

Correct Answer: 4

Explanation:


 



  P 1 + 20 100 n > 2 P 6 5 n > 2


  6 5 × 6 5 × 6 5 × 6 5 > 2


 


so, answer is 4 years


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