Question

The compound interest on Rs. 30,000 at 7% per annum is Rs. 4347 Ths period (in years) is
A) 2 years
B) 2 1/2 years
C) 3 years
D) 4 years ​

Answer 1

Answer:

A) 2 years

Now as we know that the compound interest is applied on Rs. 30,000. Now the amount after t years will be = A = Principal amount + Compound Interest for t years = 30,000 + 4347 = Rs. 34,347.