A sum of money at compound interest doubles in 4 years. In how many years will it become 8 times? MCQ with Answer and Explanation

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A sum of money at compound interest doubles in 4 years. In how many years will it become 8 times?

A. 16 years

B. 10 years

C. 12 years

D. 20 years

Answer: Option C

Solution (By JKSSB Mock Tests)

2 times in 4 years, 8 = 2³ ⇒ 4 × 3 = 12 years.

This question belongs to: Maths Compound Interest

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Question #1

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The simple interest on a sum for 2 years at 10% is Rs. 800. The compound interest on the same sum for 2 years at 10% is:

A. Rs. 860

B. Rs. 820

C. Rs. 800

D. Rs. 840

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Correct Answer: Option D

Explanation:
P = 80000/(10×2) = 4000. CI = 4000[(1.1)² − 1] = 4000 × 0.21 = Rs. 840.

This question belongs to: Maths Compound Interest

Question #2

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The difference between CI and SI on Rs. 12000 for 2 years at 5% is:

A. Rs. 40

B. Rs. 35

C. Rs. 30

D. Rs. 25

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Correct Answer: Option C

Explanation:
Difference = 12000 × (0.05)² = 12000 × 0.0025 = Rs. 30.

This question belongs to: Maths Compound Interest

Question #3

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Find the compound interest on Rs. 10000 for 2 years at 10% per annum, compounded annually.

A. Rs. 2000

B. Rs. 2100

C. Rs. 2200

D. Rs. 2400

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Correct Answer: Option B

Explanation:
Amount = 10000 * (1 + 10/100)^2 = 10000 * 1.21 = Rs. 12100. Compound Interest = Amount - Principal = 12100 - 10000 = Rs. 2100.

This question belongs to: Maths Compound Interest

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