A sum of money at compound interest becomes 8 times in 3 years. In how many years will it become 64 times? MCQ with Answer and Explanation

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A sum of money at compound interest becomes 8 times in 3 years. In how many years will it become 64 times?

A. 5 years

B. 9 years

C. 6 years

D. 4 years

Answer: Option C

Solution (By JKSSB Mock Tests)

8 times in 3 years, 64 = 8² ⇒ 3 × 2 = 6 years.

This question belongs to: Maths Compound Interest

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Question #1

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The compound interest on Rs. 3700 at 10% per annum for 2 years is:

A. Rs. 814

B. Rs. 740

C. Rs. 777

D. Rs. 851

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Correct Answer: Option C

Explanation:
A = 3700 × 1.21 = 4477, CI = 4477 − 3700 = Rs. 777.

This question belongs to: Maths Compound Interest

Question #2

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The difference between CI and SI on Rs. 6400 for 2 years at 6.25% is:

A. Rs. 25

B. Rs. 35

C. Rs. 20

D. Rs. 30

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Correct Answer: Option A

Explanation:
6.25% = 1/16. D = P × (R/100)² = 6400 × (1/16)² = 6400 × 1/256 = Rs. 25.

This question belongs to: Maths Compound Interest

Question #3

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The difference between compound interest and simple interest on a sum for 2 years at 5% per annum is Rs. 25. The sum is:

A. Rs. 12000

B. Rs. 15000

C. Rs. 10000

D. Rs. 8000

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Correct Answer: Option C

Explanation:
Difference = P × (r/100)² ⇒ 25 = P × 0.0025 ⇒ P = 10000.

This question belongs to: Maths Compound Interest

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