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. 4 years

B. 5 years

C. 6 years

D. 3 years

Answer: Option A

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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In how many years will Rs. 800 amount to Rs. 968 at 10% per annum compound interest?

A. 2.5 years

B. 2 years

C. 3 years

D. 1.5 years

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Correct Answer: Option B

Explanation:
800(1.1)^t = 968 ⇒ (1.1)^t = 1.21 = (1.1)² ⇒ t = 2.

This question belongs to: Maths Compound Interest

Question #2

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The difference between CI and SI on Rs. 1300 for 2 years at 10% is:

A. Rs. 14

B. Rs. 15

C. Rs. 12

D. Rs. 13

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Correct Answer: Option D

Explanation:
D = 1300 × 0.01 = Rs. 13.

This question belongs to: Maths Compound Interest

Question #3

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At compound interest, a sum becomes 1.21 times in 2 years. The rate of interest per annum is:

A. 12%

B. 11%

C. 9%

D. 10%

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Correct Answer: Option D

Explanation:
(1 + r)² = 1.21 ⇒ 1 + r = 1.1 ⇒ r = 10%.

This question belongs to: Maths Compound Interest

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