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The minimum number of half years in which a sum of money kept at 60% compound interest will be quadrupled is ?

Correct Answer: 6

Explanation:

Let us assume Amount be 100 Rs and we calculate in CI


 First year 60% of 100 = 60 amount (100+60) is 160


 Second year 60% of 160 = 96 amount (160+96) is 256


 Third year 60% of 256 =153.6 amount (256+153.6) is 409.6


 Here the Amount of 100 Rs is quadrapled in 3 years.


 One year contains 2 half years


 Three year has 6 half years.


 Therefore,  It takes 6 half years.


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