A sum of money at compound interest doubles in 6 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 6 years. In how many years will it become 4 times?

A. 18 years

B. 12 years

C. 10 years

D. 9 years

Answer: Option B

Solution (By JKSSB Mock Tests)

Doubles in 6 years, 4 = 2², so 6 × 2 = 12 years.

This question belongs to: Maths Compound Interest

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Question #1

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The compound interest on Rs. 10000 for 1 year at 4% per annum compounded half-yearly is:

A. Rs. 408

B. Rs. 412

C. Rs. 400

D. Rs. 404

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Correct Answer: Option D

Explanation:
Half-yearly rate = 2%, n=2. A = 10000 × (1.02)² = 10000 × 1.0404 = 10404, CI = 10404 − 10000 = Rs. 404.

This question belongs to: Maths Compound Interest

Question #2

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At what rate percent per annum will Rs. 32000 amount to Rs. 37232 in 3 years, compound interest compounded annually?

A. 5%

B. 8%

C. 4%

D. 6%

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Correct Answer: Option A

Explanation:
Amount/Principal = 37232 / 32000 = 4654 / 4000 = 9261 / 8000 = (21 / 20)^3. Therefore, 1 + R/100 = 21/20 => R/100 = 1/20 => R = 5%.

This question belongs to: Maths Compound Interest

Question #3

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At what rate percent compound interest will Rs. 800 amount to Rs. 968 in 2 years?

A. 10%

B. 15%

C. 8%

D. 12%

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Correct Answer: Option A

Explanation:
800(1+r)² = 968 ⇒ (1+r)² = 1.21 ⇒ r = 10%.

This question belongs to: Maths Compound Interest

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