Question
The compound interest on Rs.30,000 at 7% per annum for a certain time is Rs.4,347. The time is
Answer: Option C
Answer: (c)Using Rule 1,A = P$(1 + R/100)^T$30000 + 4347 = $30000(1 + 7/100)^T$$34347/30000 = (107/100)^T$$11449/10000 = (107/100)^2 = (107/100)^T$Time = 2 years
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Answer: (c)Using Rule 1,A = P$(1 + R/100)^T$30000 + 4347 = $30000(1 + 7/100)^T$$34347/30000 = (107/100)^T$$11449/10000 = (107/100)^2 = (107/100)^T$Time = 2 years
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