The compound interest on Rs. 30,000 at 7% per annum is Rs 4347. The pe

1.	The compound interest on Rs. 30,000 at 7% per annum is Rs 4347. The period (in years) is (a) 2 (b) \(2\frac{1}{2}\) (c) 3 (d) 4
Answer» (a) 2 P = Rs 30000, r = 7% p.a., C.I. = Rs 4347, n = ? \(\Rightarrow\) Amount = Rs 30000 + Rs 4347 = Rs 34347 \(\therefore\) 34347 = 30000\(\big(1+\frac{7}{100}\big)^n\) \(\Rightarrow\) \(\big(\frac{107}{100}\big)^n\) = \(\frac{34347}{30000}\) = \(\frac{11449}{10000}\) \(\Rightarrow\) \(\big(\frac{107}{100}\big)^n\) = \(\big(\frac{107}{100}\big)^2\) \(\Rightarrow\) n=2

The compound interest on Rs. 30,000 at 7% per annum is Rs 4347. The period (in years) is (a) 2 (b) \(2\frac{1}{2}\) (c) 3 (d) 4

Answer»

(a) 2

P = Rs 30000, r = 7% p.a., C.I. = Rs 4347, n = ?

\(\Rightarrow\) Amount = Rs 30000 + Rs 4347 = Rs 34347

\(\therefore\) 34347 = 30000\(\big(1+\frac{7}{100}\big)^n\)

\(\Rightarrow\) \(\big(\frac{107}{100}\big)^n\) = \(\frac{34347}{30000}\) = \(\frac{11449}{10000}\)

\(\Rightarrow\) \(\big(\frac{107}{100}\big)^n\) = \(\big(\frac{107}{100}\big)^2\) \(\Rightarrow\) n=2