A sum of money doubles itself at compound interest in 8 years. In how many years will it become 16 times? MCQ with Answer and Explanation

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A sum of money doubles itself at compound interest in 8 years. In how many years will it become 16 times?

A. 36 years

B. 32 years

C. 24 years

D. 28 years

Answer: Option B

Solution (By JKSSB Mock Tests)

2 times in 8 years, 16 = 2⁴, so 8 × 4 = 32 years.

This question belongs to: Maths Compound Interest

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Question #1

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A sum of money at compound interest becomes 7 times in 3 years. In how many years will it become 49 times?

A. 5 years

B. 9 years

C. 6 years

D. 4 years

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Correct Answer: Option C

Explanation:
49 = 7², so 3 × 2 = 6 years.

This question belongs to: Maths Compound Interest

Question #2

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At what rate percent per annum will Rs. 50000 amount to Rs. 54080 in 2 years, compound interest compounded annually?

A. 6%

B. 5%

C. 4%

D. 3%

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Correct Answer: Option C

Explanation:
Amount/Principal = 54080 / 50000 = 5408 / 5000 = 2704 / 2500 = (52 / 50)^2 = (1.04)^2. Therefore, 1 + R/100 = 1.04 => R = 4%.

This question belongs to: Maths Compound Interest

Question #3

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A sum of money at compound interest doubles in 10 years. In how many years will it become 32 times?

A. 45 years

B. 50 years

C. 60 years

D. 40 years

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Correct Answer: Option B

Explanation:
32 = 2⁵, so 10 × 5 = 50 years.

This question belongs to: Maths Compound Interest

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