1.

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

Answer»

It is given that principal = Rs. 30000

Rate = 7%

Let TIME PERIOD = n

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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