At compound interest, if a sum becomes 8 times in 3 years, what is the rate of interest? MCQ with Answer and Explanation

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At compound interest, if a sum becomes 8 times in 3 years, what is the rate of interest?

A. 200%

B. 100%

C. 50%

D. 150%

Answer: Option B

Solution (By JKExamLibrary)

(1+r)³ = 8 ⇒ 1+r = 2 ⇒ r = 100%.

This question belongs to: Maths Compound Interest

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Practice More Compound Interest Questions

Question #1 Report Error

The difference between CI and SI on Rs. 9000 for 2 years at 6% is:

A. Rs. 30.00

B. Rs. 32.40

C. Rs. 28.80

D. Rs. 34.20

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Correct Answer: Option B

Explanation:
D = 9000 × (0.06)² = 9000 × 0.0036 = Rs. 32.40.

This question belongs to: Maths Compound Interest

Question #2 Report Error

Find the difference between compound interest and simple interest on Rs. 5000 for 2 years at 8% per annum.

A. Rs. 42

B. Rs. 40

C. Rs. 36

D. Rs. 32

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Correct Answer: Option D

Explanation:
Difference for 2 years = P * (R/100)^2 = 5000 * (8/100)^2 = 5000 * (64 / 10000) = Rs. 32.

This question belongs to: Maths Compound Interest

Question #3 Report Error

The difference between CI and SI on Rs. 1000 for 2 years at 10% is:

A. Rs. 11

B. Rs. 8

C. Rs. 10

D. Rs. 9

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Correct Answer: Option C

Explanation:
D = 1000 × 0.01 = Rs. 10.

This question belongs to: Maths Compound Interest

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