A sum of money at compound interest becomes 3 times in 6 years. In how many years will it become 27 times? MCQ with Answer and Explanation

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A sum of money at compound interest becomes 3 times in 6 years. In how many years will it become 27 times?

A. 24 years

B. 15 years

C. 18 years

D. 12 years

Answer: Option C

Solution (By JKSSB Mock Tests)

3³ = 27, so 6 × 3 = 18 years.

This question belongs to: Maths Compound Interest

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Practice More Compound Interest Questions

Question #1

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At what rate percent compound interest will a sum of Rs. 2000 become Rs. 2880 in 2 years?

A. 25%

B. 20%

C. 15%

D. 18%

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Correct Answer: Option B

Explanation:
2000(1+r)² = 2880 ⇒ (1+r)² = 1.44 = (1.2)² ⇒ r = 20%.

This question belongs to: Maths Compound Interest

Question #2

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If the simple interest on a sum of money for 2 years at 5% per annum is Rs. 50, what will be the compound interest on the same sum at the same rate for the same time?

A. Rs. 50.50

B. Rs. 53.50

C. Rs. 52.00

D. Rs. 51.25

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Correct Answer: Option D

Explanation:
Simple Interest for 1 year = 50 / 2 = Rs. 25. Compound interest for 2 years includes the simple interest plus interest on the first year's interest. Extra interest = 5% of 25 = Rs. 1.25. Total compound interest = 50 + 1.25 = Rs. 51.25.

This question belongs to: Maths Compound Interest