A sum of money at compound interest amounts to thrice itself in 3 years. In how many years will it be 9 times itself? MCQ with Answer and Explanation

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A sum of money at compound interest amounts to thrice itself in 3 years. In how many years will it be 9 times itself?

A. 12 years

B. 6 years

C. 9 years

D. 8 years

Answer: Option B

Solution (By JKSSB Mock Tests)

The sum becomes 3 times in 3 years. It will become 3^2 = 9 times in 2 * 3 = 6 years.

This question belongs to: Maths Compound Interest

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Question #1

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The effective rate of interest for 10% per annum compounded half-yearly is:

A. 10.50%

B. 10.10%

C. 10.25%

D. 10.75%

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Correct Answer: Option C

Explanation:
Effective rate = (1.05)² − 1 = 1.1025 − 1 = 0.1025 = 10.25%.

This question belongs to: Maths Compound Interest

Question #2

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A sum of money at compound interest doubles in 7 years. In how many years will it become 8 times?

A. 35 years

B. 21 years

C. 28 years

D. 14 years

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Correct Answer: Option B

Explanation:
Doubles in 7 years, 8 = 2³, so 7 × 3 = 21 years.

This question belongs to: Maths Compound Interest

Question #3

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If the simple interest on a sum for 2 years at 8% is Rs. 400, the compound interest on the same sum for 2 years at 8% is:

A. Rs. 440

B. Rs. 424

C. Rs. 416

D. Rs. 432

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Correct Answer: Option C

Explanation:
P = SI × 100 / (8×2) = 40000/16 = 2500. CI = 2500[(1.08)² − 1] = 2500 × 0.1664 = Rs. 416.

This question belongs to: Maths Compound Interest

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