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At what rate percent per annum of compound interest, will a sum of money become four times of itself in two years

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At what rate percent per annum of compound interest, will a sum of money become four times of itself in two years
1). 100%
2). 75%
3). 50%
4). 20%

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2 answers

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Answered by on | Votes 0 |
100% : seems correct

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2 vote
Answered by on | Votes 2 |

A=P ($1+\frac{R^{T}}{100}$)

4= $1+\frac{R^{2}}{100}$

$1+\frac{R^{}}{100}$= 2

R = 100%




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