A sum of money becomes 2 times in 4 years at compound interest. In how many years will it become 8 times? MCQ with Answer and Explanation

A sum of money becomes 2 times in 4 years at compound interest. In how many years will it become 8 times?

A. 10 years

B. 12 years

C. 16 years

D. 8 years

Answer: Option B

2 times in 4 years; 8 = 2³, so 4 × 3 = 12 years.

This question belongs to: Maths Compound Interest

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Question #1 Report Error

Find the compound interest on Rs. 8500 at 8% per annum for 2 years.

A. Rs. 1440

B. Rs. 1414.40

C. Rs. 1430

D. Rs. 1420

Correct Answer: Option B

Explanation:
A = 8500 × (1.08)² = 8500 × 1.1664 = 9914.40, CI = 9914.40 − 8500 = Rs. 1414.40.

This question belongs to: Maths Compound Interest

Question #2 Report Error

The compound interest on Rs. 10000 for 1 year at 4% per annum compounded half-yearly is:

A. Rs. 404

B. Rs. 408

C. Rs. 412

D. Rs. 400

Correct Answer: Option A

Explanation:
Half-yearly rate = 2%, n=2. A = 10000 × (1.02)² = 10000 × 1.0404 = 10404, CI = 10404 − 10000 = Rs. 404.

This question belongs to: Maths Compound Interest

Question #3 Report Error

The compound interest on Rs. 9500 at 8% per annum for 2 years is:

A. Rs. 1595

B. Rs. 1576

C. Rs. 1580.80

D. Rs. 1588

Correct Answer: Option C

Explanation:
A = 9500 × (1.08)² = 9500 × 1.1664 = 11080.80, CI = 11080.80 − 9500 = Rs. 1580.80.

This question belongs to: Maths Compound Interest