A sum of money at compound interest becomes 10 times in 2 years. In how many years will it become 100 times? MCQ with Answer and Explanation

A sum of money at compound interest becomes 10 times in 2 years. In how many years will it become 100 times?

A. 3 years

B. 5 years

C. 6 years

D. 4 years

Answer: Option D

100 = 10², so 2 × 2 = 4 years.

This question belongs to: Maths Compound Interest

No comments yet. Be the first to start the discussion!

Question #1 Report Error

A sum of money invested at compound interest amounts to Rs. 4624 in 2 years and to Rs. 4913 in 3 years. Find the rate of interest per annum.

A. 5%

B. 6%

C. 6.25%

D. 6.5%

Correct Answer: Option C

Explanation:
Interest for the 3rd year = 4913 - 4624 = Rs. 289. Rate of interest = (289 / 4624) * 100 = 0.0625 * 100 = 6.25%.

This question belongs to: Maths Compound Interest

Question #2 Report Error

The difference between CI and SI on Rs. 8400 for 2 years at 5% is:

A. Rs. 18

B. Rs. 20

C. Rs. 21

D. Rs. 19

Correct Answer: Option C

Explanation:
D = 8400 × 0.0025 = Rs. 21.

This question belongs to: Maths Compound Interest

Question #3 Report Error

The value of a machine depreciates at 20% per annum. Its present value is Rs. 32000. What was its value 2 years ago?

A. Rs. 50000

B. Rs. 40000

C. Rs. 48000

D. Rs. 51200

Correct Answer: Option A

Explanation:
Value 2 years ago = Present value / (1 − 0.2)² = 32000 / 0.64 = 50000.

This question belongs to: Maths Compound Interest