A sum of money at compound interest quadruples in 2 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 quadruples in 2 years. In how many years will it become 16 times?

A. 6 years

B. 3 years

C. 4 years

D. 5 years

Answer: Option C

Solution (By JKSSB Mock Tests)

16 = 4², so 2 × 2 = 4 years.

This question belongs to: Maths Compound Interest

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Question #1

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A machine depreciates at 5% per annum. Its present value is Rs. 5415. What was its value 2 years ago?

A. Rs. 6000

B. Rs. 5800

C. Rs. 6200

D. Rs. 6400

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Correct Answer: Option A

Explanation:
Value 2 years ago = 5415 / (0.95)² = 5415 / 0.9025 = 6000.

This question belongs to: Maths Compound Interest

Question #2

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The compound interest on a certain sum for 2 years at 4% per annum is Rs. 1632. Find the principal sum.

A. Rs. 20000

B. Rs. 18000

C. Rs. 24000

D. Rs. 22000

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Correct Answer: Option A

Explanation:
Effective rate of compound interest for 2 years at 4% = 4 + 4 + (44)/100 = 8.16%. Given 8.16% of P = 1632 => P = 1632 / 0.0816 = Rs. 20000.

This question belongs to: Maths Compound Interest

Question #3

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The compound interest on Rs. 2600 at 10% per annum for 2 years is:

A. Rs. 520

B. Rs. 572

C. Rs. 598

D. Rs. 546

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Correct Answer: Option D

Explanation:
A = 2600 × 1.21 = 3146, CI = 3146 − 2600 = Rs. 546.

This question belongs to: Maths Compound Interest

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