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In how many years will a sum of money double at 5% p.a. compound interest?a)15 years 3 monthsb)14 years 2 monthsc)14 years 3 monthsd)15 years 2 monthsCorrect answer is option 'B'. Can you explain this answer? for CA Foundation 2022 is part of CA Foundation preparation. The Question and answers have been prepared according to the CA Foundation exam syllabus. Information about In how many years will a sum of money double
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Byju's Answer
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Other
Compound Interest
A sum of mone...
Question
A
15
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B
10
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C
20
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D
12
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Solution
The correct option is B 10
Let sum = x
Then, 2x=x[1+R100]5
⇒ [1+R100]=21/5 ... (i)
4x=x[1+R100]T
⇒ 4=[21/5]T
⇒ 22=2T/5
⇒ T5=2
∴ T=10yrs.
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