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Q:

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

  • 1
    2½
  • 2
    3
  • 3
    2
  • 4
    4
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Answer : 3. "2"
Explanation :

We know that
$$ {A=P{(1+{r\over 100}})}^{t}$$

Putting the value we can get answer 

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