SOLUTION: at what rate of interest per annum the amount Rs 10,000/- will be doubled in 5 years, interest being compounded quartely?

Question 789467: at what rate of interest per annum the amount Rs 10,000/- will be doubled in 5 years, interest being compounded quartely?
Answer by stanbon(75887) (Show Source): You can put this solution on YOUR website!
at what rate of interest per annum the amount Rs 10,000/- will be doubled in 5 years, interest being compounded quartely?
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A(5) = 10,000(1+(r/4))^(4*5)
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Solve: (1+(r/4))^20 = 2
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1 + (r/4) = 2^(1/20)
1+ (r/4) = 1.0353
r/4 = 0.0353
r = 0.1411 = 14.11%
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Cheers,
Stan H.
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