Question

how long will it take rs 1200 to amount rs 2000 at 5%
converted quarterly at compound interest​

Answer 1

Step-by-step explanation:

A = p(1+r)ⁿ

A=2000, p=1200,

r=5%per annum, per quarter of year r=5/4=1.25%

n= n no. of years , =4n quarters

2000=1200(1+1.25%)⁴ⁿ

2000/1200=1.67=(1.0125)⁴ⁿ

log 1.67 = log (1.0125)⁴ⁿ

log 1.67 = 4n log (1.0125)

4n = log 1.67 / log 1.0125

n = 10.32 years