A sum of money placed at compound interest becomes double of itself in 5 years. In how many years will it become 32 times of itself? MCQ with Answer and Explanation

A sum of money placed at compound interest becomes double of itself in 5 years. In how many years will it become 32 times of itself?

A. 25 years

B. 35 years

C. 20 years

D. 30 years

Answer: Option A

The sum becomes 2^1 times in 5 years. It will become 32 (2^5) times in 5 * 5 = 25 years.

This question belongs to: Maths Compound Interest

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Question #1 Report Error

The compound interest on Rs. 5000 at 4% per annum for 2 years compounded annually is:

A. Rs. 424

B. Rs. 416

C. Rs. 400

D. Rs. 408

Correct Answer: Option D

Explanation:
A = 5000 × (1.04)² = 5000 × 1.0816 = 5408, CI = 5408 − 5000 = Rs. 408.

This question belongs to: Maths Compound Interest

Question #2 Report Error

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

A. 12 years

B. 20 years

C. 8 years

D. 16 years

Correct Answer: Option A

Explanation:
The sum becomes 2^1 times in 4 years. It will become 8 (2^3) times in 3 * 4 = 12 years.

This question belongs to: Maths Compound Interest

Question #3 Report Error

A sum of money invested at compound interest doubles itself in 14 years. In how many years will it become 4 times of itself?

A. 21 years

B. 42 years

C. 35 years

D. 28 years

Correct Answer: Option D

Explanation:
The sum doubles (2^1) in 14 years. It will become 4 (2^2) times in 2 * 14 = 28 years.

This question belongs to: Maths Compound Interest