A sum of money at compound interest doubles in 12 years. In how many years will it become 64 times? MCQ with Answer and Explanation

A sum of money at compound interest doubles in 12 years. In how many years will it become 64 times?

A. 48 years

B. 72 years

C. 84 years

D. 60 years

Answer: Option B

64 = 2⁶, so 12 × 6 = 72 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 at compound interest triples in 7 years. In how many years will it become 27 times?

A. 28 years

B. 21 years

C. 18 years

D. 14 years

Correct Answer: Option B

Explanation:
27 = 3³, so 7 × 3 = 21 years.

This question belongs to: Maths Compound Interest

Question #2 Report Error

The simple interest on a sum for 2 years at 4% is Rs. 320. The compound interest on the same sum for 2 years at 4% is:

A. Rs. 326.40

B. Rs. 339.20

C. Rs. 345.60

D. Rs. 332.80

Correct Answer: Option A

Explanation:
P = 32000/(4×2) = 4000. CI = 4000 × 0.0816 = 326.40.

This question belongs to: Maths Compound Interest

Question #3 Report Error

Find the compound interest on Rs. 1600 at 10% per annum for 2 years if the interest is compounded annually.

A. Rs. 340

B. Rs. 336

C. Rs. 350

D. Rs. 320

Correct Answer: Option B

Explanation:
A = 1600 × (1.1)² = 1600 × 1.21 = 1936, CI = 1936 − 1600 = Rs. 336.

This question belongs to: Maths Compound Interest