Simple & Compound Interest · Question 10 · Medium
At simple interest, a sum becomes 4 times itself in 10 years. In how many years will it become 7 times itself at the same rate?
- 20 years
- 15 years
- 25 years
- 30 years
Answer and explanation
Answer: A. 20 years
Explanation: Becoming 4 times means interest of 300% in 10 years, so 30% per year. Becoming 7 times needs 600% interest, which takes 600/30 = 20 years.
Previous: The simple interest on a sum for 4 years is 2/5 of the sum. What is the rate… · Next: Kavya invests ₹12,000, part at 8% and the rest at 10% simple interest per…
Practise simple & compound interest
Try a fresh set of simple & compound interest questions with an explanation after every answer, free and without signing up: Simple & Compound Interest practice. Or sit a full placement mock test.
More simple & compound interest questions
- Find the compound interest on ₹16,000 for 1 year at 10% per annum, compounded…
- A sum of money at compound interest amounts to ₹6,050 in 2 years and ₹6,655 in…
- The simple interest on a sum for 4 years is 2/5 of the sum. What is the rate…
- Kavya invests ₹12,000, part at 8% and the rest at 10% simple interest per…
- The difference between the compound interest and simple interest on a sum for…
- A sum of money placed at compound interest doubles itself in 5 years. In how…
- The compound interest on a sum for 2 years at 10% per annum is ₹525. What is…
- Suresh borrows ₹4,200 at 10% per annum compound interest and repays it in 2…
- What is the simple interest on ₹7,500 at 6% per annum for 4 years?
- The simple interest on a sum for 5 years at 9% per annum is ₹2,700. What is…
More quantitative aptitude practice
Ratio & Proportion · Averages · Problems on Ages · Mixtures & Alligation · Time & Work · Pipes & Cisterns · Time, Speed & Distance · Problems on Trains
LogicWiz Exams home · All practice topics · Placement mock tests · Daily 10 challenge