A sum of money at compound interest becomes 3 times in 4 years. In how many years will it become 9 times? MCQ with Answer and Explanation

A sum of money at compound interest becomes 3 times in 4 years. In how many years will it become 9 times?

A. 10 years

B. 6 years

C. 12 years

D. 8 years

Answer: Option D

3 times in 4 years, 9=3² ⇒ 4×2=8 years.

This question belongs to: Maths Compound Interest

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Question #1 Report Error

The simple interest on a sum for 2 years at 4% is Rs. 200. The compound interest on the same sum for 2 years at 4% is:

A. Rs. 200

B. Rs. 204

C. Rs. 206

D. Rs. 202

Correct Answer: Option B

Explanation:
P = 20000/(4×2) = 2500. CI = 2500 × [(1.04)² − 1] = 2500 × 0.0816 = 204.

This question belongs to: Maths Compound Interest

Question #2 Report Error

A sum of money triples itself in 6 years at compound interest. In how many years will it become 9 times?

A. 10 years

B. 9 years

C. 12 years

D. 15 years

Correct Answer: Option C

Explanation:
3 times in 6 years, 9 = 3² ⇒ 6 × 2 = 12 years.

This question belongs to: Maths Compound Interest

Question #3 Report Error

Find the compound interest on Rs. 5600 at 5% per annum for 2 years.

A. Rs. 600

B. Rs. 574

C. Rs. 588

D. Rs. 560

Correct Answer: Option B

Explanation:
A = 5600 × 1.1025 = 6174, CI = 6174 − 5600 = Rs. 574.

This question belongs to: Maths Compound Interest