Q. The compound interest on 30000 Rs. at 7% per annum for a certain time is 4347 Rs. The time is :
Answer: 2 years
Notes: $latex A = P(1 + \frac{R}{100})^{T}&s=1$ $latex => 30000 + 4373 = 30000\left ( 1+\frac{7}{100} \right )^{T}&s=1$ $latex => \frac{34347}{30000} = \left ( \frac{107}{100} \right )^{T}&s=1$ $latex => \frac{11449}{10000} = \left ( \frac{107}{100} \right )^{T}&s=1$ $latex => \left ( \frac{107}{100} \right )^{2}= \left ( \frac{107}{100} \right )^{T}&s=1$ $latex \therefore Time = 2\ years$ Hence option [A] is correct answer

4