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

3 years
4 years
2.5 years
2 years

Correct Answer: 4 years

Explanation:

$P 1 + \frac{20}{100} n$ > 2P

Now, (6/5 x 6/5 x 6/5 x 6/5) > 2.

So, n = 4 years.

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