A sum of money at compound interest becomes 11 times in 2 years. In how many years will it become 121 times? MCQ with Answer and Explanation

A sum of money at compound interest becomes 11 times in 2 years. In how many years will it become 121 times?

A. 3 years

B. 5 years

C. 6 years

D. 4 years

Answer: Option D

121 = 11², 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

What sum will amount to Rs. 10816 in 2 years at 4% compound interest?

A. Rs. 9800

B. Rs. 10400

C. Rs. 10000

D. Rs. 10200

Correct Answer: Option C

Explanation:
P = 10816 / (1.04)² = 10816 / 1.0816 = 10000.

This question belongs to: Maths Compound Interest

Question #2 Report Error

At what rate percent compound interest will Rs. 4000 amount to Rs. 4630.50 in 3 years?

A. 6%

B. 4%

C. 5%

D. 7%

Correct Answer: Option C

Explanation:
4000(1+r)³ = 4630.50 ⇒ (1+r)³ = 1.157625 = (1.05)³ ⇒ r = 5%.

This question belongs to: Maths Compound Interest

Question #3 Report Error

Find the difference between compound interest and simple interest on Rs. 5000 for 2 years at 8% per annum.

A. Rs. 40

B. Rs. 42

C. Rs. 32

D. Rs. 36

Correct Answer: Option C

Explanation:
Difference for 2 years = P * (R/100)^2 = 5000 * (8/100)^2 = 5000 * (64 / 10000) = Rs. 32.

This question belongs to: Maths Compound Interest