Quant Exam > Quant Questions > Find the least number of years in which the s...
Start Learning for Free
Find the least number of years in which the sum put at 25% rate of interest will be more than doubled.
- a)2 years
- b)3 years
- c)4 years
- d)5 years
- e)None of these
Correct answer is option 'D'. Can you explain this answer?
| FREE This question is part of | Download PDF Attempt this Test |
Verified Answer
Find the least number of years in which the sum put at 25% rate of int...
Amount > = P*(1+25/100)n
Amount = p*(5/4)n
For n = 4, (625/256) which is greater than 2.
Amount = p*(5/4)n
For n = 4, (625/256) which is greater than 2.
Most Upvoted Answer
Find the least number of years in which the sum put at 25% rate of int...
Amount > = P*(1+25/100)n
Amount = p*(5/4)n
For n = 4, (625/256) which is greater than 2.
Amount = p*(5/4)n
For n = 4, (625/256) which is greater than 2.
Free Test
FREE
| Start Free Test |
Community Answer
Find the least number of years in which the sum put at 25% rate of int...
Solution:
Let the sum be x.
After 1 year, the amount will become $x+\frac{25}{100}x=\frac{5}{4}x$
After 2 years, the amount will become $\frac{5}{4}x+\frac{25}{100}\times\frac{5}{4}x=\frac{25}{16}x$
After 3 years, the amount will become $\frac{25}{16}x+\frac{25}{100}\times\frac{25}{16}x=\frac{15625}{1024}x$
After 4 years, the amount will become $\frac{15625}{1024}x+\frac{25}{100}\times\frac{15625}{1024}x=\frac{244140625}{16777216}x$
After 5 years, the amount will become $\frac{244140625}{16777216}x+\frac{25}{100}\times\frac{244140625}{16777216}x=\frac{152587890625}{8589934592}x$
We need to find the least number of years in which the sum put at 25% rate of interest will be more than doubled.
So, we need to find the minimum value of n for which $\left(\frac{5}{4}\right)^n>2$
Taking log on both sides, we get
$n\log\frac{5}{4}>\log 2$
$n>\frac{\log 2}{\log\frac{5}{4}}$
$n>4.3219$
The minimum value of n for which the sum put at 25% rate of interest will be more than doubled is 5.
Therefore, the correct option is (D) 5 years.
Let the sum be x.
After 1 year, the amount will become $x+\frac{25}{100}x=\frac{5}{4}x$
After 2 years, the amount will become $\frac{5}{4}x+\frac{25}{100}\times\frac{5}{4}x=\frac{25}{16}x$
After 3 years, the amount will become $\frac{25}{16}x+\frac{25}{100}\times\frac{25}{16}x=\frac{15625}{1024}x$
After 4 years, the amount will become $\frac{15625}{1024}x+\frac{25}{100}\times\frac{15625}{1024}x=\frac{244140625}{16777216}x$
After 5 years, the amount will become $\frac{244140625}{16777216}x+\frac{25}{100}\times\frac{244140625}{16777216}x=\frac{152587890625}{8589934592}x$
We need to find the least number of years in which the sum put at 25% rate of interest will be more than doubled.
So, we need to find the minimum value of n for which $\left(\frac{5}{4}\right)^n>2$
Taking log on both sides, we get
$n\log\frac{5}{4}>\log 2$
$n>\frac{\log 2}{\log\frac{5}{4}}$
$n>4.3219$
The minimum value of n for which the sum put at 25% rate of interest will be more than doubled is 5.
Therefore, the correct option is (D) 5 years.
|
Explore Courses for Quant exam
|
|
Find the least number of years in which the sum put at 25% rate of interest will be more than doubled.a)2 yearsb)3 yearsc)4 yearsd)5 yearse)None of theseCorrect answer is option 'D'. Can you explain this answer?
Question Description
Find the least number of years in which the sum put at 25% rate of interest will be more than doubled.a)2 yearsb)3 yearsc)4 yearsd)5 yearse)None of theseCorrect answer is option 'D'. Can you explain this answer? for Quant 2024 is part of Quant preparation. The Question and answers have been prepared according to the Quant exam syllabus. Information about Find the least number of years in which the sum put at 25% rate of interest will be more than doubled.a)2 yearsb)3 yearsc)4 yearsd)5 yearse)None of theseCorrect answer is option 'D'. Can you explain this answer? covers all topics & solutions for Quant 2024 Exam. Find important definitions, questions, meanings, examples, exercises and tests below for Find the least number of years in which the sum put at 25% rate of interest will be more than doubled.a)2 yearsb)3 yearsc)4 yearsd)5 yearse)None of theseCorrect answer is option 'D'. Can you explain this answer?.
Find the least number of years in which the sum put at 25% rate of interest will be more than doubled.a)2 yearsb)3 yearsc)4 yearsd)5 yearse)None of theseCorrect answer is option 'D'. Can you explain this answer? for Quant 2024 is part of Quant preparation. The Question and answers have been prepared according to the Quant exam syllabus. Information about Find the least number of years in which the sum put at 25% rate of interest will be more than doubled.a)2 yearsb)3 yearsc)4 yearsd)5 yearse)None of theseCorrect answer is option 'D'. Can you explain this answer? covers all topics & solutions for Quant 2024 Exam. Find important definitions, questions, meanings, examples, exercises and tests below for Find the least number of years in which the sum put at 25% rate of interest will be more than doubled.a)2 yearsb)3 yearsc)4 yearsd)5 yearse)None of theseCorrect answer is option 'D'. Can you explain this answer?.
Solutions for Find the least number of years in which the sum put at 25% rate of interest will be more than doubled.a)2 yearsb)3 yearsc)4 yearsd)5 yearse)None of theseCorrect answer is option 'D'. Can you explain this answer? in English & in Hindi are available as part of our courses for Quant.
Download more important topics, notes, lectures and mock test series for Quant Exam by signing up for free.
Here you can find the meaning of Find the least number of years in which the sum put at 25% rate of interest will be more than doubled.a)2 yearsb)3 yearsc)4 yearsd)5 yearse)None of theseCorrect answer is option 'D'. Can you explain this answer? defined & explained in the simplest way possible. Besides giving the explanation of
Find the least number of years in which the sum put at 25% rate of interest will be more than doubled.a)2 yearsb)3 yearsc)4 yearsd)5 yearse)None of theseCorrect answer is option 'D'. Can you explain this answer?, a detailed solution for Find the least number of years in which the sum put at 25% rate of interest will be more than doubled.a)2 yearsb)3 yearsc)4 yearsd)5 yearse)None of theseCorrect answer is option 'D'. Can you explain this answer? has been provided alongside types of Find the least number of years in which the sum put at 25% rate of interest will be more than doubled.a)2 yearsb)3 yearsc)4 yearsd)5 yearse)None of theseCorrect answer is option 'D'. Can you explain this answer? theory, EduRev gives you an
ample number of questions to practice Find the least number of years in which the sum put at 25% rate of interest will be more than doubled.a)2 yearsb)3 yearsc)4 yearsd)5 yearse)None of theseCorrect answer is option 'D'. Can you explain this answer? tests, examples and also practice Quant tests.
|
|
Explore Courses for Quant exam
|
|
Signup for Free!
Signup to see your scores go up within 7 days! Learn & Practice with 1000+ FREE Notes, Videos & Tests.
|
© EduRev
|
Education Revolution
|
Follow Us
|
Signup to see your scores
go up within 7 days!
Access 1000+ FREE Docs, Videos and Tests
Takes less than 10 seconds to signup