The compound interest on Rs. 30000 at 7% per annum for a certain time is Rs. 4347. The time is?

Question

Accepted Answer

∵ 30000 x (1 +7/100)t = 30000 + 4347 ⇒ (107/100)t = 34347/30000 ⇒11449/10000 = (107/100)2 ∴ Time = 2 years

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