Compound-Interest
Question 1 |
₹ 1000 doubled in 10 years when compounded annually. How many more years will it take to get another ₹ 2000 compound interest?
5 years | |
10 years | |
3 years | |
4 years |
Question 1 Explanation:
₹ 1000 invested in compound interest becomes ₹ 2000 in 10 years.
The amount will double again in another 10 years.
The amount will become ₹ 2000 in another 10 years.
So, to earn another ₹ 2000 interest, it will take another 10 years.
The amount will double again in another 10 years.
The amount will become ₹ 2000 in another 10 years.
So, to earn another ₹ 2000 interest, it will take another 10 years.
There is 1 question to complete.