Question

how long will take rs 12000 to 20000 at 5%converted quaterly​

Answer 1

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Here is your answer

10 years and 8 months...

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Answer 2

Given :  rs 12000 to 20000 at 5% converted quarterly​

To find :  Time taken

Solution:

P = 12000

A = 20000

R = 5 %

Quarterly  = 5/4 = 1.25 %

Time =  n Years  = 4n quarters

A = P( 1 + r/100)ⁿ

20000 = 12000 ( 1 + 1.25/100)⁴ⁿ

=> 5/3 = (1.0125)⁴ⁿ

Taking log both sides

=> 0.22185  = 4n (0.005395)

=> 4n = 41.12

=> n = 10.28 years

Approx 10 years and 1 quarter

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