A sum of money at compound interest triples in 7 years. In how many years will it become 27 times? MCQ with Answer and Explanation

Question

Share Report Error

A sum of money at compound interest triples in 7 years. In how many years will it become 27 times?

A. 21 years

B. 28 years

C. 18 years

D. 14 years

Answer: Option A

Solution (By JKSSB Mock Tests)

27 = 3³, so 7 × 3 = 21 years.

This question belongs to: Maths Compound Interest

Request complete Subject PDF

Discuss this Question (0)

No comments yet. Be the first to start the discussion!

Practice More Compound Interest Questions

Question #1

Share Report

What is the compound interest on Rs. 20000 for 1 year at 16% per annum, compounded half-yearly?

A. Rs. 3400

B. Rs. 3328

C. Rs. 3200

D. Rs. 3500

View Answer & Solution Discuss

Get Complete Subject PDF for Maths

Correct Answer: Option B

Explanation:
Half-yearly rate = 16/2 = 8%. Time = 2 half-years. Amount = 20000 * (1 + 8/100)^2 = 20000 * 1.1664 = Rs. 23328. Compound Interest = 23328 - 20000 = Rs. 3328.

This question belongs to: Maths Compound Interest

Question #2

Share Report

A sum of money invested at compound interest doubles itself in 4 years. In how many years will it become 16 times itself?

A. 20 years

B. 12 years

C. 16 years

D. 24 years

View Answer & Solution Discuss

Get Complete Subject PDF for Maths

Correct Answer: Option C

Explanation:
The sum doubles (2^1) in 4 years. It will become 16 (2^4) times in 4 * 4 = 16 years.

This question belongs to: Maths Compound Interest

Question #3

Share Report

If the compound interest on a sum for 2 years at 5% is Rs. 307.50, the simple interest on the same sum for 2 years at 5% is:

A. Rs. 280

B. Rs. 300

C. Rs. 310

D. Rs. 290

View Answer & Solution Discuss

Get Complete Subject PDF for Maths

Correct Answer: Option B

Explanation:
CI = P × 0.1025 = 307.50 ⇒ P = 3000. SI = 3000 × 5 × 2 / 100 = Rs. 300.

This question belongs to: Maths Compound Interest

Explore All Compound Interest MCQs