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

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

A. 24 years

B. 16 years

C. 12 years

D. 20 years

Answer: Option B

Solution (By JKSSB Mock Tests)

The sum doubles (2^1) in 8 years. It will become 4 (2^2) times in 2 * 8 = 16 years.

This question belongs to: Maths Compound Interest

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Question #1

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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. 290

B. Rs. 310

C. Rs. 280

D. Rs. 300

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Correct Answer: Option D

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

This question belongs to: Maths Compound Interest

Question #2

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What sum will produce Rs. 204 as compound interest in 2 years at 4% per annum?

A. Rs. 2400

B. Rs. 2700

C. Rs. 2600

D. Rs. 2500

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Correct Answer: Option D

Explanation:
P = 204 / 0.0816 = 2500.

This question belongs to: Maths Compound Interest

Question #3

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The compound interest on Rs. 2200 at 10% per annum for 2 years is:

A. Rs. 500

B. Rs. 462

C. Rs. 484

D. Rs. 520

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Correct Answer: Option B

Explanation:
A = 2200 × (1.1)² = 2200 × 1.21 = 2662, CI = 2662 − 2200 = Rs. 462.

This question belongs to: Maths Compound Interest

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