In how many years will a sum of money double at 5% p.a compounded interest?

CA Foundation · Quantitative Aptitude · MTP · June 2024
In how many years will a sum of money double at 5% p.a compounded interest?
(A) A. 15 years 3 months
(B) B. 14 years 2 months
(C) C. 14 years 3 months
(D) D. 15 years 2 months

Suggested Answer and Working Notes:

Correct Answer: Option (B)

B. 14 years 2 months

Topics: Part-A: Business Mathematics

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