A sum of money invested at compound interest doubles itself in 16 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 16 years. In how many years will it become 4 times of itself?

A. 40 years

B. 48 years

C. 24 years

D. 32 years

Answer: Option D

Solution (By JKSSB Mock Tests)

The sum doubles (2^1) in 16 years. It will become 4 (2^2) times in 2 * 16 = 32 years.

This question belongs to: Maths Compound Interest

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Question #1

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The compound interest on Rs. 5000 at 4% per annum for 2 years compounded annually is:

A. Rs. 416

B. Rs. 408

C. Rs. 400

D. Rs. 424

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Correct Answer: Option B

Explanation:
A = 5000 × (1.04)² = 5000 × 1.0816 = 5408, CI = 5408 − 5000 = Rs. 408.

This question belongs to: Maths Compound Interest

Question #2

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A sum of money at compound interest amounts to Rs. 14520 in 2 years and to Rs. 15972 in 3 years. Find the sum.

A. Rs. 13000

B. Rs. 10000

C. Rs. 14000

D. Rs. 12000

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Correct Answer: Option D

Explanation:
Rate = (15972/14520 − 1) × 100 = 10%. P = 14520 / (1.1)² = 14520 / 1.21 = 12000.

This question belongs to: Maths Compound Interest

Question #3

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What is the compound interest on Rs. 20000 for 1 year at 12% per annum, compounded half-yearly?

A. Rs. 2500

B. Rs. 2472

C. Rs. 2600

D. Rs. 2400

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Correct Answer: Option B

Explanation:
Half-yearly rate = 12/2 = 6%. Time = 2 half-years. Amount = 20000 * (1 + 6/100)^2 = 20000 * 1.1236 = Rs. 22472. Compound Interest = 22472 - 20000 = Rs. 2472.

This question belongs to: Maths Compound Interest

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