A sum of money becomes eight times of itself in 3 years at compound in – McqOptions

MCQOPTIONS

1.	A sum of money becomes eight times of itself in 3 years at compound interest. The rate of interest per annum is
A.	20 %
B.	10 %
C.	100 %
D.	80 %
Answer» D. 80 %

Discussion

No Comment Found

Related MCQs

What would be the compound interest accrued on an amount of Rs.7850 at the rate of 14% per annum in two years?
A certain sum increases by 50 % in 5 years. Three sums x, y and z are lent for 10, 15 and 20 years respectively. If amount on each sum is equal, then find the ratio of x, y and z.
The simple and compound interest that can be earned in two years at the same rate is Rs 1500 and Rs 1575 respectively. What is the rate (% per annum) of interest?
A sum amounts to 6480 in 4 years and 9600 in 8 years when it is compounded annually. Find the sum?
A person lent certain sum of money at 5% per annum simple interest and in 15 years the interest amounted to Rs 250 less than the sum lent. What was the sum lent (in Rs)?
Compounding interest means interest accrues
A sum of Rs 5,000 amounts to Rs 7,200 in 8 years at a certain rate percent p.a, interest compounded yearly. What will be the compound interest on a sum of Rs.6,550 in 4 years at the same rate of interest?
Mr. Sathya invested money in FD. How much will he get on maturity, if Rs. 14,500 is invested at 20 % per annum compound interest for 6 months, compounded quarterly
The difference between simple interest and compound interest on Rs. 1200 for one year at the rate of 10 percent half-yearly is-
Find the principal amount, the difference of which compound interest and simple interest for a period of 3 years at the rate of 10% per annum will be Rs 31-