A sum of money at compound interest becomes 10 times in 2 years. In how many years will it become 100 times? MCQ with Answer and Explanation

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A sum of money at compound interest becomes 10 times in 2 years. In how many years will it become 100 times?

A. 3 years

B. 4 years

C. 5 years

D. 6 years

Answer: Option B

Solution (By JKSSB Mock Tests)

100 = 10², so 2 × 2 = 4 years.

This question belongs to: Maths Compound Interest

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Question #1

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A sum of money placed at compound interest becomes double of itself in 5 years. In how many years will it become 128 times of itself?

A. 30 years

B. 35 years

C. 45 years

D. 40 years

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Correct Answer: Option B

Explanation:
The sum becomes 2^1 times in 5 years. It will become 128 (2^7) times in 7 * 5 = 35 years.

This question belongs to: Maths Compound Interest

Question #2

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A sum of money at compound interest doubles in 5 years. In how many years will it become 16 times?

A. 15 years

B. 18 years

C. 25 years

D. 20 years

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Correct Answer: Option D

Explanation:
16 = 2⁴, so 5 × 4 = 20 years.

This question belongs to: Maths Compound Interest

Question #3

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Find the principal if the compound interest at 10% per annum for 2 years is Rs. 630.

A. Rs. 3500

B. Rs. 2800

C. Rs. 3200

D. Rs. 3000

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Correct Answer: Option D

Explanation:
CI = P × 0.21 = 630 ⇒ P = 630 / 0.21 = 3000.

This question belongs to: Maths Compound Interest

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