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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

  • Tags: Bank Exams, Bank PO

    More questions

    • 1. 
      The median for the data 2, 4, 6, 8, 10, 12, 14 is

    • Options
    • A. 6
    • B. 8
    • C. 9.5
    • D. 10
    • Discuss
    • 2. 
      The value of 47 / 10000 is?

    • Options
    • A. .0047
    • B. .0470
    • C. .00047
    • D. .000047
    • Discuss
    • 3. If 4x = 18y, then the value of ( x/y - 1) is

    • Options
    • A. 1 3
    • B. 7 2
    • C. 2 3
    • D. 3 2
    • Discuss
    • 4. 
      If the price of 23 toys is Rs. 276, then what will the price (Rs.) of 12 toys?

    • Options
    • A. 144
    • B. 158
    • C. 159
    • D. 166
    • Discuss
    • 5. 
      .02 =(......?.....)%

    • Options
    • A. 20
    • B. 2
    • C. .02
    • D. .2
    • Discuss
    • 6. 
      If 36 men can do a piece of work in 25 hours, in how many hours will 15 men do it?

    • Options
    • A. 45
    • B. 55
    • C. 60
    • D. 72
    • Discuss
    • 7. 
      2?63 / 11 =233

    • Options
    • A. 4
    • B. 3
    • C. 6
    • D. 5
    • Discuss
    • 8. 
      When 121012 is divided by 12, the remainder is

    • Options
    • A. 0
    • B. 2
    • C. 3
    • D. 4
    • Discuss
    • 9. 
      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
    • 10. 
      750.0003 ÷ 19.999 =?

    • Options
    • A. 49
    • B. 18
    • C. 22
    • D. 38
    • Discuss


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