A sum of money doubles itself in 6 years at compound interest compounded annually. In how many years will it become 16 times of itself? MCQ with Answer and Explanation

Explanation:
Half-yearly rate 5%, n=4. A = 60000 × (1.05)⁴ = 60000 × 1.21550625 = 72930.375, CI = 12930.375 ≈ 12930.

Explanation:
Difference for 3 years = P * (R/100)^2 * (3 + R/100) => 124 = P * (10/100)^2 * (3 + 10/100) => 124 = P * (1/100) * (3.1) => 124 = P * 0.031 => P = 124 / 0.031 = Rs. 4000.

Explanation:
D = 1400 × 0.01 = Rs. 14.