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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:

3
4
5
6

Correct Answer: 4

Explanation:

P

❨

1 +

20

❩

n

> 2P

⟹

❨

6

❩

n

> 2.

100

5

Now,	❨	6	x	6	x	6	x	6	❩	> 2.
		5		5		5		5

So, n = 4 years.

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