A sum of money placed at compound interest becomes double of itself in 4 years. In how many years will it become 32 times of itself? MCQ with Answer and Explanation

Question

A sum of money placed at compound interest becomes double of itself in 4 years. In how many years will it become 32 times of itself?

A. 28 years

B. 16 years

C. 20 years

D. 24 years

Answer: Option C

Solution (By JKSSB Mock Tests)

The sum becomes 2^1 times in 4 years. It will become 32 (2^5) times in 5 * 4 = 20 years.

This question belongs to: Maths Compound Interest

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Question #1

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The simple interest on a sum for 2 years at 10% is Rs. 1000. The compound interest on the same sum for 2 years at 10% is:

A. Rs. 1000

B. Rs. 1050

C. Rs. 1100

D. Rs. 1025

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Correct Answer: Option B

Explanation:
P = 100000/(10×2) = 5000. CI = 5000 × 0.21 = 1050.

This question belongs to: Maths Compound Interest

Question #2

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What sum will amount to Rs. 10584 in 2 years at 5% compound interest?

A. Rs. 9600

B. Rs. 9200

C. Rs. 9800

D. Rs. 9400

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Correct Answer: Option A

Explanation:
P = 10584 / 1.1025 = 9600.

This question belongs to: Maths Compound Interest

Question #3

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Find the compound interest on Rs. 60000 at 10% per annum for 2 years compounded half-yearly.

A. Rs. 13100

B. Rs. 13200

C. Rs. 13000

D. Rs. 12930

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Correct Answer: Option D

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

This question belongs to: Maths Compound Interest

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