A sum of money at compound interest doubles in 6 years. In how many years will it become 4 times? MCQ with Answer and Explanation

A sum of money at compound interest doubles in 6 years. In how many years will it become 4 times?

A. 18 years

B. 12 years

C. 10 years

D. 9 years

Answer: Option B

Doubles in 6 years, 4 = 2², so 6 × 2 = 12 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. 18 years

B. 21 years

C. 14 years

D. 28 years

Correct Answer: Option B

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

This question belongs to: Maths Compound Interest

Question #2 Report Error

What sum will amount to Rs. 1323 in 2 years at 5% compound interest?

A. Rs. 1200

B. Rs. 1250

C. Rs. 1300

D. Rs. 1150

Correct Answer: Option A

Explanation:
P = 1323 / 1.1025 = 1200.

This question belongs to: Maths Compound Interest

Question #3 Report Error

At what rate percent per annum will Rs. 50000 amount to Rs. 54080 in 2 years, compound interest compounded annually?

A. 4%

B. 6%

C. 5%

D. 3%

Correct Answer: Option A

Explanation:
Amount/Principal = 54080 / 50000 = 5408 / 5000 = 2704 / 2500 = (52 / 50)^2 = (1.04)^2. Therefore, 1 + R/100 = 1.04 => R = 4%.

This question belongs to: Maths Compound Interest