SOLUTION: at what rate of interest per annum the amount Rs 10,000/- will be doubled in 5 years, interest being compounded quartely?
Algebra ->
Surface-area
-> SOLUTION: at what rate of interest per annum the amount Rs 10,000/- will be doubled in 5 years, interest being compounded quartely?
Log On
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?
-----
A(5) = 10,000(1+(r/4))^(4*5)
----
Solve: (1+(r/4))^20 = 2
--
1 + (r/4) = 2^(1/20)
1+ (r/4) = 1.0353
r/4 = 0.0353
r = 0.1411 = 14.11%
----------------
Cheers,
Stan H.
=============
(