A sum of money at compound interest triples in 8 years. In how many years will it become 9 times? MCQ with Answer and Explanation

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A sum of money at compound interest triples in 8 years. In how many years will it become 9 times?

A. 16 years

B. 12 years

C. 18 years

D. 14 years

Answer: Option A

Solution (By JKSSB Mock Tests)

3 times in 8 years, 9 = 3² ⇒ 8 × 2 = 16 years.

This question belongs to: Maths Compound Interest

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Question #1

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A sum of money amounts to Rs. 10816 in 2 years and Rs. 11248.64 in 3 years at compound interest. Find the sum.

A. Rs. 9000

B. Rs. 9500

C. Rs. 10000

D. Rs. 10500

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Correct Answer: Option C

Explanation:
Rate = (11248.64/10816 − 1) × 100 = 4%. P = 10816 / (1.04)² = 10000.

This question belongs to: Maths Compound Interest

Question #2

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A machine depreciates at 10% per annum. Its present value is Rs. 7290. What was its value 3 years ago?

A. Rs. 13000

B. Rs. 12000

C. Rs. 10000

D. Rs. 11000

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Correct Answer: Option C

Explanation:
Value 3 years ago = 7290 / (0.9)³ = 7290 / 0.729 = 10000.

This question belongs to: Maths Compound Interest

Question #3

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In how many years will Rs. 3600 amount to Rs. 3969 at 5% per annum compound interest?

A. 3 years

B. 2.5 years

C. 1.5 years

D. 2 years

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Correct Answer: Option D

Explanation:
3600(1.05)^t = 3969 ⇒ (1.05)^t = 1.1025 ⇒ t = 2.

This question belongs to: Maths Compound Interest

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