A sum of money at compound interest doubles itself in 5 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 itself in 5 years. In how many years will it become 8 times?

A. 10 years

B. 20 years

C. 25 years

D. 15 years

Answer: Option D

Solution (By JKSSB Mock Tests)

Doubles in 5 years; 8 = 2³, so time = 5 × 3 = 15 years.

This question belongs to: Maths Compound Interest

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Question #1

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At what rate percent compound interest will Rs. 1600 amount to Rs. 1852.20 in 3 years?

A. 4%

B. 7%

C. 5%

D. 6%

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Correct Answer: Option C

Explanation:
1600(1+r)³ = 1852.20 ⇒ (1+r)³ = 1.157625 = (1.05)³ ⇒ r = 5%.

This question belongs to: Maths Compound Interest

Question #2

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The difference between compound interest and simple interest on Rs. 1600 for 2 years at 5% is:

A. Rs. 5.00

B. Rs. 4.80

C. Rs. 3.20

D. Rs. 4.00

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Correct Answer: Option D

Explanation:
D = 1600 × (0.05)² = 1600 × 0.0025 = Rs. 4.

This question belongs to: Maths Compound Interest

Question #3

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A sum of money invested at compound interest doubles itself in 17 years. In how many years will it become 4 times of itself?

A. 34 years

B. 26 years

C. 42 years

D. 51 years

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Correct Answer: Option A

Explanation:
The sum doubles (2^1) in 17 years. It will become 4 (2^2) times in 2 * 17 = 34 years.

This question belongs to: Maths Compound Interest

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