Arithmetic Ability
Compound Interest

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Q.

The compound interest on Rs. 30,000 at 7% per annum is Rs. 4347. The period (in years) is:

View Answer

Correct choice: B

Explanation:

Amount = Rs. (30000 + 4347) = Rs. 34347. Let the time be n years. Then, 30000*(1+7/100)^n=34347 n= 2 years
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