A sum of money doubles itself in 5 years. In how many years will it become four fold if interest is compounded?
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Solution
The correct option is B 10
Let sum = x
Then, 2x=x[1+R100]5
⇒ [1+R100]=21/5 ... (i)
4x=x[1+R100]T
⇒ 4=[21/5]T
⇒ 22=2T/5
⇒ T5=2
∴ T=10yrs.
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Updated On: 27-06-2022
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Text Solution
Answer : 16 years 8mounths.
Answer
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