A sum of ₹ 12,000 deposited at compound interest becomes double after 5 years. After 20 years, it

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6.Interest

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A sum of ₹ $12,000$ deposited at compound interest becomes double after $5$ years. After $20$ years, it will become (In ₹)

A

$48000$

B

$96000$

C

$190000$

D

$192000$

Solution

(d) $A=P\left(1+\frac{R}{100}\right)^{T}$

$\Rightarrow \frac{A}{P}=\left(1+\frac{R}{100}\right)^{T}$

$\Rightarrow \quad 2=\left(1+\frac{R}{100}\right)^{5}$

$\Rightarrow 2^{4}=\left(1+\frac{R}{100}\right)^{20}$

$\Rightarrow 16=\left(1+\frac{R}{100}\right)^{20}$

Hence, the principal will become 16 times in 20 years. $=₹(16 \times 12000)$

$=₹ 1,92,000$

Standard 13

Quantitative Aptitude

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