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The minimum number of half years in which a sum of money kept at 60% compound interest will be quadrupled is ?5
Q: The minimum number of half years in which a sum of money kept at 60% compound interest will be quadrupled is ?
- 12false
- 24false
- 33false
- 46true
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Answer : 4. "6"
Explanation :
Answer: D) 6 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.