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

Question

Accepted Answer

Amount = Rs. (30000 + 4347) = Rs. 34347. Let the time be n years. Then, 30000 ❨ 1 + 7

⟹	❨	107	❩	n	=	34347	=	11449	=	❨	107	❩	2
		100				30000		10000			100

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