A sum of ₹ 15000 deposited at compound intere | vedclass

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Question

(D) The formula for compound interest is $A = P(1 + \frac{R}{100})^n$.Given that the sum becomes double in $5$ years:$15000(1 + \frac{R}{100})^5 = 300

Vedclass · Accepted Answer

$240000$

Vedclass · Answer

(D) The formula for compound interest is $A = P(1 + \frac{R}{100})^n$.Given that the sum becomes double in $5$ years:$15000(1 + \frac{R}{100})^5 = 30000$$(1 + \frac{R}{100})^5 = 2$We need to find the amount after $20$ years:$A = 15000(1 + \frac{R}{100})^{20}$$A = 15000[(1 + \frac{R}{100})^5]^4$Substituting the value $(1 + \frac{R}{100})^5 = 2$:$A = 15000 	imes 2^4$$A = 15000 	imes 16 = 240000$Thus,the amount after $20$ years is ₹ $240000$.

$A$ sum of ₹ $15000$ deposited at compound interest becomes double after $5$ $years$. After $20$ $years$,it will become (in ₹):

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