1.

A sum of money doubles in 4 years under compound interest at certain rate of interest

Answer»

ong>Answer:

18%

Explanation:

Thumb rule is that MONEY doubles in 72/x YEARS where x is the approx. interest rate compounding ANNUALLY. In your QUESTION 72/x is 4 years so x would be 18% approx.

Say if you have to compute interest rate if money DOUBLE in 6 years then answer will be 72/6 = 12 % approx.



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