a compound interest on ₹30000 at 7% p.a. is ₹4347. calculate the period
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what is the name of compound
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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.
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