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The compound interest on Rs. 30,000 at 7% per annum is Rs. 4347. The period (in years) is1). 22). \(2\frac{1}{2}\)3). 34). 4 |
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Answer» It is given that principal = Rs. 30000 Rate = 7% Compound INTEREST = Rs. 4347 Amount = Principal + Compound interest = Rs. 34347 We know, Amount = Principal (1 + Rate/100)n ⇒ 34347 = 30000 (1 + 7/100)n ⇒ 11449/10000 = (107/100)n ⇒ (107/100)2 = (107/100)t Time period = 2 years |
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