The compound interest on Rs. 30,000 at 7% per annum is Rs. 4347. The period (in years) is:
Question 1:
The compound interest on Rs. 30,000 at 7% per annum is Rs. 4347. The period (in years) is:
A.2
FeedbackAmount = Rs. (30000 + 4347) = Rs. 34347 Let the time be n years. Then, 30000(1 +7n/100)= 34347 (107/100)^ n=34347/30000=11449/10000= (107/100)^2 n = 2 years
B.2 1/2
C.4
D. 3
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