Question

The compound interest of ₹30,000 at 7 p.c.p.a is ₹4347. The period (in years) will be.

Answer 1

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Amount = Rs.(30000+4347) = Rs.34347

let the time be n years

Then,30000(1+7/100)^n = 34347

(107/100)^n = 34347/30000 = 11449/10000 = (107/100)^2

n = 2years

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Answer 2

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Amount = Rs.(30000+4347) = Rs.34347

let the time be n years

Then,30000(1+7/100)^n = 34347

(107/100)^n = 34347/30000 = 11449/10000 = (107/100)^2

n = 2years

$\bf\pink{\textsf{Answered By Miss Akdu}}$