183) the compound interest on₹ 30,000 at 7% per annum is ₹4347.Find the period in years.
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Answered by
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Answer:
amount=principal+interest
=30000+4347
amount=34347
amount=P(1+R/100)^N
34347=30000(1+7/100)^N
34347/30000=(107/100)^N
11449/10000=(107/100)^N
(107/100)^2=(107/100)^N
N=2 years
Answered by
2
Step-by-step explanation:
write the formula for compound interest,and solve as I have done in the fig.i hope u will understand..
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