The time in which a sum of money will be double at 5% p.a C.I isa.10 yearsb.12 yearsc.14.2 yearsd.15.2 years

To solve this problem, we can use the formula for compound interest, which is A = P(1 + r/n)^(nt), where:

• A is the amount of money accumulated after n years, including interest.
• P is the principal amount (the initial amount of money).
• r is the annual interest rate (in decimal form).
• n is the number of times that interest is compounded per year.
• t is the time the money is invested for in years.

In this case, we want to find out the time (t) it takes for an initial sum (P) to double (A = 2P) with an annual interest rate of 5% (r = 0.05) compounded annually (n = 1).

So, we have:

2P = P(1 + 0.05/1)^(1*t)

Solving for t, we get:

2 = (1 + 0.05)^t

Taking the natural logarithm (ln) of both sides, we get:

ln(2) = t * ln(1.05)

Finally, solving for t, we get:

t = ln(2) / ln(1.05)

Using a calculator, we find that t ≈ 14.2 years.

So, the correct answer is c. 14.2 years.