Question
The compound interest on Rs. 30,000 at 7% per annum is Rs. 4347. The period (in years) is:
Answer: Option A
- Amount = Rs. (30000 + 4347) = Rs. 34347.
Let the time be n years.
Then, 30000 ( 1 + 7 ) n = 34347 100
( 107 ) n = 34347 = 11449 = ( 107 ) 2 100 30000 10000 100
n = 2 years.
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- Amount = Rs. (30000 + 4347) = Rs. 34347.
Let the time be n years.
Then, 30000 ( 1 + 7 ) n = 34347 100
( 107 ) n = 34347 = 11449 = ( 107 ) 2 100 30000 10000 100
n = 2 years.
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