In how many years will Rs. 800 amount to Rs. 882 at 5% per annum compound interest? MCQ with Answer and Explanation

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In how many years will Rs. 800 amount to Rs. 882 at 5% per annum compound interest?

A. 2 years

B. 1 year

C. 4 years

D. 3 years

Answer: Option A

Solution (By JKSSB Mock Tests)

800(1.05)^t = 882 ⇒ (1.05)^t = 1.1025 = (1.05)² ⇒ t = 2.

This question belongs to: Maths Compound Interest

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Question #1

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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. 36 years

B. 24 years

C. 30 years

D. 18 years

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Correct Answer: Option B

Explanation:
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

Question #2

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A sum of money placed at compound interest becomes double of itself in 5 years. In how many years will it become 64 times of itself?

A. 25 years

B. 35 years

C. 30 years

D. 40 years

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Correct Answer: Option C

Explanation:
The sum becomes 2^1 times in 5 years. It will become 64 (2^6) times in 6 * 5 = 30 years.

This question belongs to: Maths Compound Interest

Question #3

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A sum of money at compound interest triples in 8 years. In how many years will it become 9 times?

A. 16 years

B. 12 years

C. 14 years

D. 18 years

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Correct Answer: Option A

Explanation:
3 times in 8 years, 9 = 3² ⇒ 8 × 2 = 16 years.

This question belongs to: Maths Compound Interest

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