Question 1159780
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The correct answer is


<pre>
    Under given conditions, the number of years needed to reach the required output is 2 years.

    Since compounding is made at the end of an year, ONLY.
</pre>

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By the way, the condition says NOTHING about the compounding time period, so 

<pre>
    (a)  it is the problem's FAULT,    and

    (b)  BY DEFAULT, the compounding period is 1 year.
</pre>


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As the problem is worded, it is BAD STYLE writing Math problem;


besides of it, there are deficiencies in its formulation, from the common sense of view.


(It is my personal opinion).


It is better do not go to the public with problems, formulated in this way.