Compound Interest - Arithmetic Aptitude Questions and Answers

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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:

Answer : Option B

Explanation :

P\([ 1+\frac { 20 } {100 } ]^n\)greater than2P\( (\frac { 6} { 5 } ) ^n\)greater than2

Now,[\(\frac { 6} { 5 } *\)\(\frac { 6} { 5 } *\)\(\frac { 6} { 5 } *\)\(\frac { 6} { 5 } *\)]greater than2