A sum of money invested at compound interest doubles itself in 12 years. In how many years will it become 4 times of itself? MCQ with Answer and Explanation

Question

A sum of money invested at compound interest doubles itself in 12 years. In how many years will it become 4 times of itself?

A. 30 years

B. 36 years

C. 24 years

D. 18 years

Answer: Option C

Solution (By JKSSB Mock Tests)

The sum doubles (2^1) in 12 years. It will become 4 (2^2) times in 2 * 12 = 24 years.

This question belongs to: Maths Compound Interest

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Question #1

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The effective annual rate for 11% per annum compounded half-yearly is:

A. 11.25%

B. 11.35%

C. 11.30%

D. 11.50%

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Correct Answer: Option C

Explanation:
Half-yearly rate 5.5%, (1.055)² = 1.113025, effective = 11.3025% ≈ 11.30%.

This question belongs to: Maths Compound Interest

Question #2

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The compound interest on a sum for 2 years at 9% is Rs. 376.20. The sum is:

A. Rs. 2000

B. Rs. 2200

C. Rs. 2400

D. Rs. 1800

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Correct Answer: Option A

Explanation:
CI = P × 0.1881 = 376.20 ⇒ P = 2000.

This question belongs to: Maths Compound Interest

Question #3

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A sum of money at compound interest becomes 3 times in 5 years. In how many years will it become 9 times?

A. 12 years

B. 15 years

C. 8 years

D. 10 years

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Correct Answer: Option D

Explanation:
3 times in 5 years; 9 = 3² ⇒ 5 × 2 = 10 years.

This question belongs to: Maths Compound Interest

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