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 answers: A) 2 B) 2½ C) 3 D) 4 E) 5
Solution   Amount	=Rs(30000 + 4347)   = Rs.34347.   Let the time be n years.   Then, 30000(1+7/100)^n   = 34347.   =34347/3000   =11449/1000   =(107/100)^n   n= 2years.   2nswer 2
<result>A</result>
The compound interest on Rs.30,000 at 7% per annum is Rs.4347. The period (in years) is