Question

The compound interest on Rs.30000 at 7% per annum is Rs.4347 . The period ( in year ) is.​

Answer 1

Answer:

2 years

Step-by-step explanation:

As we know principal is 30000

now

compound interest for two years

7% of 30000 + 7% of 30000 + 7 % of interest of first year

7/100×30000+ (7/100×30000+7% of first year interest)

2100+2100+ 7/100×2100

4200+147

4347 which is given

so answer is 2 years