A sum of money at compound interest becomes 8 times in 3 years. In how many years will it become 512 times? MCQ with Answer and Explanation

Question

Share Report Error

A sum of money at compound interest becomes 8 times in 3 years. In how many years will it become 512 times?

A. 6 years

B. 12 years

C. 7 years

D. 9 years

Answer: Option D

Solution (By JKSSB Mock Tests)

512 = 8³, so 3 × 3 = 9 years.

This question belongs to: Maths Compound Interest

Request complete Subject PDF

Discuss this Question (0)

No comments yet. Be the first to start the discussion!

Practice More Compound Interest Questions

Question #1

Share Report

The difference between CI and SI on a sum for 2 years at 10% is Rs. 60. The sum is:

A. Rs. 5000

B. Rs. 5500

C. Rs. 6000

D. Rs. 6500

View Answer & Solution Discuss

Get Complete Subject PDF for Maths

Correct Answer: Option C

Explanation:
D = P × 0.01 = 60 ⇒ P = 6000.

This question belongs to: Maths Compound Interest

Question #2

Share Report

If the simple interest on a sum of money for 3 years at 5% per annum is Rs. 1200, find the compound interest on the same sum at the same rate for the same period.

A. Rs. 1261.00

B. Rs. 1240.50

C. Rs. 1301.50

D. Rs. 1280.00

View Answer & Solution Discuss

Get Complete Subject PDF for Maths

Correct Answer: Option A

Explanation:
Simple Interest for 1 year = 1200 / 3 = Rs. 400. Principal P = (1200 * 100) / (5 * 3) = Rs. 8000. Amount with compound interest = 8000 * (1 + 5/100)^3 = 8000 * 1.157625 = Rs. 9261. Compound Interest = 9261 - 8000 = Rs. 1261.

This question belongs to: Maths Compound Interest