A sum of money at compound interest becomes 4 times in 2 years. In how many years will it become 16 times? MCQ with Answer and Explanation

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A sum of money at compound interest becomes 4 times in 2 years. In how many years will it become 16 times?

A. 4 years

B. 3 years

C. 6 years

D. 5 years

Answer: Option A

Solution (By JKSSB Mock Tests)

4 times in 2 years; 16 = 4², so time = 2 × 2 = 4 years.

This question belongs to: Maths Compound Interest

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Question #1

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The compound interest on a sum for 2 years at 5% is Rs. 205. Find the sum.

A. Rs. 2000

B. Rs. 1900

C. Rs. 2100

D. Rs. 2200

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Correct Answer: Option A

Explanation:
CI = P[(1.05)² − 1] = P × 0.1025 = 205 ⇒ P = 2000.

This question belongs to: Maths Compound Interest

Question #2

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The compound interest on Rs. 10000 at 10% per annum for 2 years compounded half-yearly is:

A. Rs. 2155.06

B. Rs. 2200

C. Rs. 2250

D. Rs. 2300

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Correct Answer: Option A

Explanation:
Half-yearly rate 5%, n=4. A = 10000 × (1.05)⁴ = 10000 × 1.21550625 = 12155.0625, CI = Rs. 2155.06.

This question belongs to: Maths Compound Interest

Question #3

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At what rate percent per annum will Rs. 8000 amount to Rs. 9261 in 3 years, compound interest compounded annually?

A. 5%

B. 4%

C. 8%

D. 6%

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Correct Answer: Option A

Explanation:
Amount/Principal = 9261 / 8000 = (21 / 20)^3. Therefore, 1 + R/100 = 21/20 => R/100 = 1/20 => R = 5%.

This question belongs to: Maths Compound Interest

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