Keerthana
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The least number of years in which a sum of money on 19% p.a. compound interest will be more than double is

a

3 years

b

4 years

c

5 years

d

2 years

Answer : Option B
Explanation :

A=P(1+R100)TA=P\left(1+\frac{R}{100}\right)^{T}

2P=P(1+19100)T\Rightarrow 2 \mathrm{P}=\mathrm{P}\left(1+\frac{19}{100}\right)^{\mathrm{T}}

2=(119100)T\Rightarrow 2=\left(\frac{119}{100}\right)^{\mathrm{T}}

2=(1.19)T\Rightarrow 2=(1.19)^{\mathrm{T}}

If T=4\mathrm{T}=4 years,

(1.19)4>2(1.19)^{4}>2

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