A sum of money at compound interest amounts to thrice itself in 3 years. In how many years will it be 9 times itself? MCQ with Answer and Explanation

A sum of money at compound interest amounts to thrice itself in 3 years. In how many years will it be 9 times itself?

A. 9 years

B. 12 years

C. 6 years

D. 8 years

Answer: Option C

The sum becomes 3 times in 3 years. It will become 3^2 = 9 times in 2 * 3 = 6 years.

This question belongs to: Maths Compound Interest

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Question #1 Report Error

The compound interest on a sum for 2 years at 8% is Rs. 665.60. The sum is:

A. Rs. 4400

B. Rs. 4200

C. Rs. 3800

D. Rs. 4000

Correct Answer: Option D

Explanation:
CI = P × 0.1664 = 665.60 ⇒ P = 665.60 / 0.1664 = 4000.

This question belongs to: Maths Compound Interest

Question #2 Report Error

The effective annual rate of interest for 10% per annum compounded quarterly is:

A. 10.38%

B. 10.25%

C. 10.47%

D. 10.50%

Correct Answer: Option A

Explanation:
Quarterly rate 2.5%, (1.025)⁴ = 1.10381289, effective = 10.3813% ≈ 10.38%.

This question belongs to: Maths Compound Interest

Question #3 Report Error

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. 18 years

C. 30 years

D. 24 years

Correct Answer: Option D

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