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. 10 years

B. 12 years

C. 8 years

D. 15 years

Answer: Option A

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 compound interest on a certain sum of money for 2 years at 5% per annum is Rs. 246. What is the sum?

A. Rs. 2500

B. Rs. 2200

C. Rs. 2600

D. Rs. 2400

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Correct Answer: Option D

Explanation:
Effective compound interest rate for 2 years at 5% = 5 + 5 + (55)/100 = 10.25%. Given 10.25% of P = 246 => P = 246 / 0.1025 = Rs. 2400.

This question belongs to: Maths Compound Interest

Question #2

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A sum of money at compound interest amounts to Rs. 18150 in 2 years and Rs. 19965 in 3 years. Find the sum.

A. Rs. 14000

B. Rs. 17000

C. Rs. 15000

D. Rs. 16000

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Correct Answer: Option C

Explanation:
Rate = (19965/18150 − 1) × 100 = 10%. P = 18150 / 1.21 = 15000.

This question belongs to: Maths Compound Interest

Question #3

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A sum of money placed at compound interest becomes double of itself in 4 years. In how many years will it become 32 times of itself?

A. 24 years

B. 16 years

C. 20 years

D. 28 years

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Correct Answer: Option C

Explanation:
The sum becomes 2^1 times in 4 years. It will become 32 (2^5) times in 5 * 4 = 20 years.

This question belongs to: Maths Compound Interest

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