A sum of money invested at compound interest doubles itself in 15 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 15 years. In how many years will it become 4 times of itself?

A. 60 years

B. 45 years

C. 30 years

D. 20 years

Answer: Option C

Solution (By JKSSB Mock Tests)

The sum doubles (2^1) in 15 years. It will become 4 (2^2) times in 2 * 15 = 30 years.

This question belongs to: Maths Compound Interest

Request complete Subject PDF

Discuss this Question (0)

No comments yet. Be the first to start the discussion!

Practice More Compound Interest Questions

Question #1

Share Report

A sum of money at compound interest becomes 2.56 times in 2 years. The rate of interest is:

A. 60%

B. 50%

C. 55%

D. 65%

View Answer & Solution Discuss

Get Complete Subject PDF for Maths

Correct Answer: Option A

Explanation:
(1+r)² = 2.56 ⇒ 1+r = 1.6 ⇒ r = 60%.

This question belongs to: Maths Compound Interest

Question #2

Share Report

Find the principal if the compound interest at 10% per annum for 2 years is Rs. 630.

A. Rs. 2800

B. Rs. 3000

C. Rs. 3500

D. Rs. 3200

View Answer & Solution Discuss

Get Complete Subject PDF for Maths

Correct Answer: Option B

Explanation:
CI = P × 0.21 = 630 ⇒ P = 630 / 0.21 = 3000.

This question belongs to: Maths Compound Interest

Question #3

Share Report

The compound interest on Rs. 2700 at 10% per annum for 2 years is:

A. Rs. 612

B. Rs. 600

C. Rs. 594

D. Rs. 567

View Answer & Solution Discuss

Get Complete Subject PDF for Maths

Correct Answer: Option D

Explanation:
A = 2700 × 1.21 = 3267, CI = 3267 − 2700 = Rs. 567.

This question belongs to: Maths Compound Interest

Explore All Compound Interest MCQs