Quick Method for solving Compound Interest Questions - Type 11

Ashish

Administrator
Staff member
#1
1) A sum of money doubles itself in 4 years at compound interest. It will amount to 8 times itself at the same rate of interest in:
a) 18 years
b) 12 years
c) 16 years
d) 24 years



Answer: b

2) A sum doubles itself in 6 years at compund interest. The sum will be 8 times at the same rate of interest in:
a) 15 years
b) 12 years
c) 18 years
d) 10 years



Answer: c

3) A sum of money becomes 8 times of itself in 3 years at compound interest. The rate of interest per annum is:
a) 100%
b) 80%
c) 20%
d) 10%



Answer: a