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Question

The compound interest on Rs. 30,000 at 7% per annum is Rs. 4347. The period (in years) is:

Options:
A .  2
B .  2 1/2
C .  3
D .  4
E .  None of these
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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