A sum of Rs. 12000 deposited at compound interest becomes doubles after 5 years. After 20 years it will become?

Question

Accepted Answer

∵ 2P = P(1 +r/100)5 ⇒ (1 +r/100)5 = 2 ∴ (1 + r/100)20 = 24 = 16 Thus, P(1 +r/100)20 = 16P = Rs. (12000 x 16) = Rs. 192000

Discussion & Comments