At what rate of interest is an amount doubled in two years, when compounded annually?	Choose the correct answer:  A) 41.8%  B) 41.4%  C) 81.4%  D) 48.4%  E) 11.4%
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%.Answer:41.4%
<result>B</result>
At what rate of interest is an amount doubled in two years, when compounded annually?