Arithmetic Ability
Compound Interest

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Q.

The compound interest on rs.30000 at 7% per annum is Rs.4347. The period is

View Answer

Correct choice: A

Explanation:

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 n = 2years
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