Arithmetic Ability
Compound Interest

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Q.

The minimum number of half years in which a sum of money kept at 60% compound interest will be quadrupled is ?

View Answer

Correct choice: D

Explanation:

Let us assume Amount be 100 Rs and we calculate in CI First year 60% of 100 = 60 amount (100+60) is 160 Second year 60% of 160 = 96 amount (160+96) is 256 Third year 60% of 256 =153.6 amount (256+153.6) is 409.6 Here the Amount of 100 Rs is quadrapled in 3 years. One year contains 2 half years Three year has 6 half years. Therefore, It takes 6 half years.
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