A sum of ₹ 15000 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 ₹ $15000$ deposited at compound interest becomes double after $5$ $years.$ After $20$ $years$, it will become (In ₹)

$120000$

$150000$

$155000$

$240000$

Solution

or $15000\left(1+\frac{R}{100}\right)^{5}=30000$

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

$\begin{aligned} \therefore \quad 15000\left(1+\frac{R}{100}\right)^{20} &=15000\left[\left(1+\frac{R}{100}\right)^{5}\right]^{4} \\ &=15000 \times 2^{4}=2,40,000 \end{aligned}$

: Amount after 20 years $=₹ 2,40,000$

Standard 13

Quantitative Aptitude

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Solution

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