A sum of money at compound interest becomes 9 times in 2 years. In how many years will it become 81 times? MCQ with Answer and Explanation

Question

Share Report Error

A sum of money at compound interest becomes 9 times in 2 years. In how many years will it become 81 times?

A. 4 years

B. 3 years

C. 6 years

D. 5 years

Answer: Option A

Solution (By JKSSB Mock Tests)

81 = 9², so 2 × 2 = 4 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

Find the amount of Rs. 5000 at compound interest for 3 years at 4% per annum.

A. Rs. 5624.32

B. Rs. 5660

C. Rs. 5600

D. Rs. 5648

View Answer & Solution Discuss

Get Complete Subject PDF for Maths

Correct Answer: Option A

Explanation:
A = 5000 × (1.04)³ = 5000 × 1.124864 = 5624.32.

This question belongs to: Maths Compound Interest

Question #2

Share Report

At what rate per annum compound interest will Rs. 1000 become Rs. 1102.50 in 2 years?

A. 5%

B. 4%

C. 8%

D. 6%

View Answer & Solution Discuss

Get Complete Subject PDF for Maths

Correct Answer: Option A

Explanation:
1000(1+r)² = 1102.50 ⇒ (1+r)² = 1.1025 ⇒ 1+r = 1.05 ⇒ r = 5%.

This question belongs to: Maths Compound Interest

Question #3

Share Report

The compound interest on a certain sum for 2 years at 8% per annum is Rs. 416. Find the principal sum.

A. Rs. 2400

B. Rs. 2600

C. Rs. 2800

D. Rs. 2500

View Answer & Solution Discuss

Get Complete Subject PDF for Maths

Correct Answer: Option D

Explanation:
Effective rate of compound interest for 2 years at 8% = 8 + 8 + (88)/100 = 16.64%. Given 16.64% of P = 416 => P = 416 / 0.1664 = Rs. 2500.

This question belongs to: Maths Compound Interest

Explore All Compound Interest MCQs