JIPMAT 2021 (QA) - A certain sum is lent at a certain rate of compound interest. It grows to 1.44 times its value in 2 years. If the same sum is lent at simple interest at the same rate, in how many years would it double itself? | PYQs + Solutions

JIPMAT 2021

Arithmetic

Conceptual

3 years

4 years

5 years

6 years

✅ Correct Option: 3

Related questions:

The difference between compound and simple interests on a certain sum of money at the interest rate of $10\%$ per annum for $1\frac{1}{2}$ years is $₹183$ , when the interest is compounded semi-annually, then the sum of money is :

A sum becomes double in 10 years, then what is the annual rate of simple interest?

Sumit has Rs. 90000 with him. He purchases three items A, B, and C for Rs. 15000, Rs. 13000, and Rs. 35000 respectively and puts the remaining money in a bank deposit that pays compound interest @15% per annum. After 2 years, he sells off the three items at 80% of their original price and also withdraws his entire money from the bank by closing the account. What is the total change in his asset?

JIPMAT 2021 (QA) PYQs

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