At what rate of interest is an amount doubled in two years, when compounded annually?	Select the correct option
A) 41.4%
B) 43.4%
C) 31.4%
D) 30%
E) 21.4%
Let the rate of interest be r. The amount gets doubled in two years =&gt; P(1 + r/100)2 = 2p =&gt; 1 + r/100 = √2 =&gt; r/100 = √2 - 1 = 0.414 =&gt; r = 100(0.414) = 41.4%   41.4%NSWER:41.4%
<result>A</result>
At what rate of interest is an amount doubled in two years, when compounded annually?