The compound interest on Rs. 30,000 at 7% per annum is Rs. 4347. The period(in years) is?	Choose one: A) 2 years B) 6 years C) 7 years D) 9 years E) 4 years
Amount = (30000 + 4347) = Rs. 34347   Let the time be n years. Then,   30000(1 + 7/100)n = 34347   = (107/100)n = 34347/30000 = (107/100)2   n = 2 years.   2 yearsnswer: 2 years:
<result>A</result>
The compound interest on Rs. 30,000 at 7% per annum is Rs. 4347. The period(in years) is?