Practicing Success
Practicing Success
CUET Preparation Today
A certain sum is invested at 26% p.a, interest compounded annually. In how many years (approx) will it double? |
4 3 2 5 |
3 |
The Formula that we used here is - Amount = P$(1 \;+\; \frac{R}{100})^t$ 2P = P[ 1 + \(\frac{26}{100}\) ]t 2 = [ \(\frac{63}{50}\) ]t 2 = ( 1.26 )t On solving , t = 2.99 years = 3 years ( Approx ) |
