A sum of money at compound interest becomes 2 times in 3 years. In how many years will it become 32 times? MCQ with Answer and Explanation

A sum of money at compound interest becomes 2 times in 3 years. In how many years will it become 32 times?

A. 18 years

B. 21 years

C. 15 years

D. 12 years

Answer: Option C

32 = 2⁵, so 3 × 5 = 15 years.

This question belongs to: Maths Compound Interest

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Question #1 Report Error

The compound interest on Rs. 3900 at 10% per annum for 2 years is:

A. Rs. 897

B. Rs. 819

C. Rs. 780

D. Rs. 858

Correct Answer: Option B

Explanation:
A = 3900 × 1.21 = 4719, CI = 4719 − 3900 = Rs. 819.

This question belongs to: Maths Compound Interest

Question #2 Report Error

Find the compound interest on Rs. 10000 at 8% per annum for 1 year compounded quarterly.

A. Rs. 816

B. Rs. 800

C. Rs. 824.32

D. Rs. 832

Correct Answer: Option C

Explanation:
Quarterly rate = 2%, n = 4. A = 10000 × (1.02)⁴ = 10000 × 1.08243216 = 10824.3216, CI ≈ Rs. 824.32.

This question belongs to: Maths Compound Interest

Question #3 Report Error

A sum of money at compound interest becomes 3 times in 5 years. In how many years will it become 9 times?

A. 10 years

B. 8 years

C. 12 years

D. 15 years

Correct Answer: Option A

Explanation:
3 times in 5 years; 9 = 3² ⇒ 5 × 2 = 10 years.

This question belongs to: Maths Compound Interest