A sum of money placed at compound interest doubles itself in 4 years. In how many years will it amount to 8 times itself? MCQ with Answer and Explanation

Question

A sum of money placed at compound interest doubles itself in 4 years. In how many years will it amount to 8 times itself?

A. 10 years

B. 12 years

C. 8 years

D. 16 years

Answer: Option B

Solution (By JKSSB Mock Tests)

2 times in 4 years, 8 = 2³ ⇒ 4 × 3 = 12 years.

This question belongs to: Maths Compound Interest

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Question #1

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The difference between CI and SI on Rs. 7500 for 2 years at 8% is:

A. Rs. 42

B. Rs. 48

C. Rs. 50

D. Rs. 45

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Correct Answer: Option B

Explanation:
D = 7500 × (0.08)² = 7500 × 0.0064 = Rs. 48.

This question belongs to: Maths Compound Interest

Question #2

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

A. Rs. 484

B. Rs. 520

C. Rs. 462

D. Rs. 500

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Correct Answer: Option C

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

This question belongs to: Maths Compound Interest

Question #3

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Find the amount on Rs. 13500 at 8% per annum compound interest for 2 years.

A. Rs. 15800

B. Rs. 15900

C. Rs. 15746.40

D. Rs. 16000

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Correct Answer: Option C

Explanation:
A = 13500 × (1.08)² = 13500 × 1.1664 = 15746.40.

This question belongs to: Maths Compound Interest

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