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Home Aptitude Compound Interest See What Others Are Saying!
  • Question
  • At 3% annual interest compounded monthly, how long will it take to double your money?


  • Options
  • A. 20.1
  • B. 21.1
  • C. 22.1
  • D. 23.1

  • Correct Answer
  • 23.1 

    Explanation

    At first glance it might seem that this problem cannot be solved because we do not have enough
    information. It can be solved as long as you double whatever amount you start with. If we start with
    $100, then P = $100 and FV = $200.

    FV=P(1+r/n)^nt


  • More questions

    • 1. 
      Aarti can do a piece of work in 6 days. In how many days will she complete three time of work of same type?

    • Options
    • A. 18 days
    • B. 21 days
    • C. 3 days
    • D. 6 days
    • Discuss
    • 2. 
      750.0003 ÷ 19.999 =?

    • Options
    • A. 49
    • B. 18
    • C. 22
    • D. 38
    • Discuss
    • 3. 
      105, 85, 60, 30, 0, - 45, - 90?

    • Options
    • A. 0
    • B. 85
    • C. -45
    • D. 60
    • Discuss
    • 4. 
      Let A = {1, 2, {3, 4}, 5}. Which of the following statements is true?

    • Options
    • A. {3, 4} ? A
    • B. {3, 4} ? A
    • C. 1 ? A
    • D. {1, 2, 5} ? A
    • Discuss
    • 5. 
      Two vessels A and B contains milk and water mixed in the ratio 5 : 3 and 2 : 3. When these mixtures are mixed to form a new mixture containing half milk and half water, they must be taken in the ratio ?

    • Options
    • A. 2 : 5
    • B. 3 : 5
    • C. 4 : 5
    • D. 7 : 3
    • Discuss
    • 6. 
      1, 2, 4, 8, 16, 32, 64, (...), 256?

    • Options
    • A. 148
    • B. 128
    • C. 154
    • D. 164
    • Discuss
    • 7. 
      A tree is 12 m tall and casts an an 8 m long shadow. At the same time, a flag pole caste a 100 m long shadow. How long is the flag pole?

    • Options
    • A. 150 m
    • B. 200 m
    • C. 125 m
    • D. 115 m
    • Discuss
    • 8. 
      8% of 96 =? of 1/25

    • Options
    • A. 19.2
    • B. 7.68
    • C. 1.92
    • D. None of these
    • Discuss
    • 9. A certain amount earns simple interest of Rs. 1750 after 7 years. Had the interest been 2% more, how much more interest would it have earned?

    • Options
    • A. Rs. 35
    • B. Rs. 245
    • C. Rs. 350
    • D. Cannot be determined
    • E. None of these
    • Discuss
    • 10. 
      If the hands of a clock coincide in every 65 minutes (true time), in 24 hours the clock will gain:

    • Options
    • A. 10 10 minutes. 143
    • B. 9 12 minutes. 143
    • C. 11 12 minutes. 143
    • D. 12 10 minutes. 143
    • Discuss


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