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When the interest is compounded continuously, the amount of money invested increases at a rate proportional to its size. If Rs.200 is invested at 20% compounded continuously, in how many years will the original investment double itself

When the interest is compounded continuously, the amount of money invested increases at a rate proportional to its size. If Rs.200 is invested at 20% compounded continuously, in how many years will the original investment double itself

Grade:Upto college level

1 Answers

SHAIK AASIF AHAMED
askIITians Faculty 74 Points
7 years ago
Hello student,
From the formula of compound interest we have
A=p(1+r/100)n
400=200(1+20/100)n
2=(1.2)n
we get n=3.8 years
thanks and Regards
Shaik Aasif
askIITians faculty

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