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24 Sep 2021, 05:41
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B
Be sure to select an answer first to save it in the Error Log before revealing the correct answer (OA)!
Difficulty:
25%
(medium)
Question Stats:
76% (01:40) correct
24%
(01:49)
wrong
based on 103
sessions
History
Date
Time
Result
Not Attempted Yet
The least number of complete years in which a sum of money put out at 20% compound interest will be more than doubled is
(A) 3
(B) 4
(C) 5
(D) 6
(E) 7
(A) 3
(B) 4
(C) 5
(D) 6
(E) 7
yashikaaggarwal
Senior Moderator - Masters Forum
Joined: 19 Jan 2020
Last visit: 29 Mar 2026
Posts: 3,089
Own Kudos:
Given Kudos: 1,510
Location: India
Schools: Cranfield (A) Warwick MiM "23 (M)
GPA: 4
WE:Analyst (Internet and New Media)
28 Sep 2021, 07:52
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2P = P(100+r/100)^T
2 =(120/100)^T
2 = (6/5)^T
2 = (1.2)^T
Now,
Going by options,
1.2^3 = 1.78
1.2^4 = 2.07 (nearest value to 2)
T = 4
Answer is B
Posted from my mobile device
2 =(120/100)^T
2 = (6/5)^T
2 = (1.2)^T
Now,
Going by options,
1.2^3 = 1.78
1.2^4 = 2.07 (nearest value to 2)
T = 4
Answer is B
Posted from my mobile device
28 Sep 2021, 08:10
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LamboWalker
20 * 5 = 100
Hence, Answer must be slight less than 5 , among the given options only (B) fits in perfectly, Answer must be (B)
