the cost of a bike increase at a rate of 7% p.a. due to.hike in price of raw material .in how many years will the price of bike be rs 34347, ifthe present value of bike is rs 30,000
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Answer:
Step-by-step explanation:
Rate=7%
Principle=30000
Interest=34347
now,
Time=I*100/P*R
T=34347 * 100/30000 * 7
T=34,34,700/2,10,000
T=16.35 yrs.
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