Arithmetichard · Past Paper
Find the least number of complete years in which a sum of money put out at 20% compound interest will be more than doubled.
A3 years
B4 years
C5 years
D6 years
✓ Correct Answer: B — 4 years
1.2^T > 2. 1.2^2 = 1.44, 1.2^3 = 1.728, 1.2^4 = 2.0736. So 4 years.
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