The compound interest on Rs.30,000 at 7% per annum is Rs. 4347. The period (in years) is: Choose the correct choice from the following choices.
A) 2  B) 2 ½  C) 3  D) 4  E) 3 ½
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   So the period is 2 years.   2NSWER:2
<result>A</result>
The compound interest on Rs.30,000 at 7% per annum is Rs. 4347. The period (in years) is: