The least number of complete years in which a | vedclass

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Question

Let the number of year be $N$.

$	herefore \quad P\left(1+\frac{20}{100}ight)^{N}>2 P$

or $\left(1+\frac{20}{100}ight)^{N}>2$

$\lef

Vedclass · Accepted Answer

$4$

Vedclass · Answer

Let the number of year be $N$.

$	herefore \quad P\left(1+\frac{20}{100}ight)^{N}>2 P$

or $\left(1+\frac{20}{100}ight)^{N}>2$

$\left(\frac{6}{5}ight)^{N}>2$

$	herefore$

$N=4$ years

The least number of complete years in which a sum of money put out at $20 \%$ compound interest will be more than doubled is

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