A sum of money at compound interest becomes 7 times in 3 years. In how many years will it become 343 times? MCQ with Answer and Explanation

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A sum of money at compound interest becomes 7 times in 3 years. In how many years will it become 343 times?

A. 7 years

B. 8 years

C. 9 years

D. 6 years

Answer: Option C

Solution (By JKSSB Mock Tests)

343 = 7³, so 3 × 3 = 9 years.

This question belongs to: Maths Compound Interest

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Question #1

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At what rate percent compound interest will Rs. 20000 amount to Rs. 22050 in 2 years?

A. 6%

B. 4%

C. 7%

D. 5%

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Correct Answer: Option D

Explanation:
20000(1+r)² = 22050 ⇒ (1+r)² = 1.1025 = (1.05)² ⇒ r = 5%.

This question belongs to: Maths Compound Interest

Question #2

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The compound interest on Rs. 8300 at 10% per annum for 2 years is:

A. Rs. 1743

B. Rs. 1826

C. Rs. 1660

D. Rs. 1909

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Correct Answer: Option A

Explanation:
A = 8300 × 1.21 = 10043, CI = 10043 − 8300 = Rs. 1743.

This question belongs to: Maths Compound Interest

Question #3

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Find the compound interest on Rs. 10800 at 10% per annum for 2 years.

A. Rs. 2268

B. Rs. 2484

C. Rs. 2376

D. Rs. 2160

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Correct Answer: Option A

Explanation:
A = 10800 × 1.21 = 13068, CI = 13068 − 10800 = Rs. 2268.

This question belongs to: Maths Compound Interest

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