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Compound Interest

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  1. A sum of ₹ 2400 deposited at CI, Double after 5 yr. After 20 yr it will become ?
    1. ₹ 24000
    2. ₹ 38400
    3. ₹ 19200
    4. Cannot be determined
Correct Option: B

2P = P (1 + R/100) 5
⇒ 24 P = P(1 + R/100)20
⇒ The amount becomes 24 times
= 16 times and required amount = 2400 x 16 = ₹ 38400


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