5.The compound interest on Rs. 30,000 at 7% per annum is Rs. 4347. The period (in years) is:
A. 2
B. 2
C. 3
D. 4
Answer: Option A
Explanation:
Amount = Rs. (30000 + 4347) = Rs. 34347.
Let the time be n years.
Then, 30000
|
|
1 +
|
7
|
|
n
|
= 34347
|
100
|
|
|
|
107
|
|
n
|
=
|
34347
|
=
|
11449
|
=
|
|
107
|
|
2
|
100
|
30000
|
10000
|
100
|
n = 2 years.
Title :
Compound Interest Q5
Description : 5.The compound interest on Rs. 30,000 at 7% per annum is Rs. 4347. The period (in years) is: A. 2 B. 2 C. 3 D. 4 An...
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