A sum of money at compound interest doubles in 5 years. In how many years will it become 4 times? MCQ with Answer and Explanation

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A sum of money at compound interest doubles in 5 years. In how many years will it become 4 times?

A. 8 years

B. 10 years

C. 12 years

D. 15 years

Answer: Option B

Solution (By JKSSB Mock Tests)

2²=4, so 5×2=10 years.

This question belongs to: Maths Compound Interest

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Question #1

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The difference between CI and SI on Rs. 6800 for 2 years at 10% is:

A. Rs. 65

B. Rs. 70

C. Rs. 68

D. Rs. 60

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Correct Answer: Option C

Explanation:
D = 6800 × 0.01 = Rs. 68.

This question belongs to: Maths Compound Interest

Question #2

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A sum of money amounts to Rs. 6655 in 3 years and Rs. 7320.50 in 4 years at compound interest. The sum is:

A. Rs. 5500

B. Rs. 5000

C. Rs. 6000

D. Rs. 6500

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Correct Answer: Option B

Explanation:
Rate = (7320.50/6655 − 1) × 100 = 10%. P = 6655 / (1.1)³ = 6655 / 1.331 = 5000.

This question belongs to: Maths Compound Interest

Question #3

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The effective annual rate for 18% per annum compounded half-yearly is:

A. 18.81%

B. 19.25%

C. 18.50%

D. 19.00%

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Correct Answer: Option A

Explanation:
Half-yearly rate 9%, (1.09)² = 1.1881, effective = 18.81%.

This question belongs to: Maths Compound Interest

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