The CI on Rs. 30,000 at 7% per year is Rs. 4347. The period is?  Pick one:
A) 1 years
B) 2 years
C) 3 years
D) 4 years
E) 5 years
Amount = Rs. (30000 + 4347) = Rs. 34347.   Let the time be n years.   Then, 30000 1 + 7 n = 34347   100   107 n = 34347 = 11449 = 107 2   100 30000 10000 100   n = 2 years   2 years
<result>B</result>
The CI on Rs. 30,000 at 7% per year is Rs. 4347. The period is?