A sum of money placed at compound interest becomes double of itself in 5 years. In how many years will it become 64 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 64 times of itself?

A. 30 years

B. 35 years

C. 40 years

D. 25 years

Answer: Option A

The sum becomes 2^1 times in 5 years. It will become 64 (2^6) times in 6 * 5 = 30 years.

This question belongs to: Maths Compound Interest

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Question #1 Report Error

A sum of money amounts to Rs. 10404 in 2 years at 2% compound interest. Find the sum.

A. Rs. 10100

B. Rs. 9900

C. Rs. 9800

D. Rs. 10000

Correct Answer: Option D

Explanation:
P = 10404 / (1.02)² = 10404 / 1.0404 = 10000.

This question belongs to: Maths Compound Interest

Question #2 Report Error

A sum of money invested at compound interest doubles itself in 10 years. In how many years will it become 4 times of itself?

A. 15 years

B. 20 years

C. 25 years

D. 30 years

Correct Answer: Option B

Explanation:
The sum doubles (2^1) in 10 years. It will become 4 (2^2) times in 2 * 10 = 20 years.

This question belongs to: Maths Compound Interest

Question #3 Report Error

Find the compound interest on Rs. 1800 at 10% per annum for 1 year compounded half-yearly.

A. Rs. 180

B. Rs. 190

C. Rs. 184.50

D. Rs. 189

Correct Answer: Option C

Explanation:
Half-yearly rate 5%, n=2. A = 1800 × (1.05)² = 1800 × 1.1025 = 1984.50, CI = 1984.50 − 1800 = Rs. 184.50.

This question belongs to: Maths Compound Interest