The compound interest on Rs. 30,000 at 7% per annum is Rs. 4347. What is the period (in years)?  Select.
A) 1	B) 2	C) 3	D) 3.5	E) 5
Explanation:   Let the period be n years   Then, amount after n years = Rs.(30000 + 4347) = Rs. 34347   P(1+R/100)T=34347   30000(1+7/100)n=34347   30000(107100)n=34347   (107/100)n=34347/30000=11449/10000=(107/100)2   n=2 years   Answer: Option 2
<result>B</result>
The compound interest on Rs. 30,000 at 7% per annum is Rs. 4347. What is the period (in years)?