A sum of money at compound interest doubles in 8 years. In how many years will it become 16 times? MCQ with Answer and Explanation

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A sum of money at compound interest doubles in 8 years. In how many years will it become 16 times?

A. 40 years

B. 24 years

C. 32 years

D. 48 years

Answer: Option C

Solution (By JKSSB Mock Tests)

Doubles in 8 years; 16 = 2⁴, so time = 8 × 4 = 32 years.

This question belongs to: Maths Compound Interest

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Question #1

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A sum of money placed at compound interest becomes double of itself in 5 years. In how many years will it become 128 times of itself?

A. 40 years

B. 30 years

C. 35 years

D. 45 years

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Correct Answer: Option C

Explanation:
The sum becomes 2^1 times in 5 years. It will become 128 (2^7) times in 7 * 5 = 35 years.

This question belongs to: Maths Compound Interest

Question #2

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A sum amounts to Rs. 1210 in 2 years and Rs. 1331 in 3 years at compound interest. Find the sum.

A. Rs. 1050

B. Rs. 1000

C. Rs. 950

D. Rs. 900

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Correct Answer: Option B

Explanation:
Rate = (1331/1210 − 1) × 100 = 10%. P = 1210 / (1.1)² = 1210 / 1.21 = 1000.

This question belongs to: Maths Compound Interest

Question #3

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The compound interest on a sum for 2 years at 9% is Rs. 376.20. The sum is:

A. Rs. 2400

B. Rs. 1800

C. Rs. 2000

D. Rs. 2200

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Correct Answer: Option C

Explanation:
CI = P × 0.1881 = 376.20 ⇒ P = 2000.

This question belongs to: Maths Compound Interest

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