SIMPLE INTEREST
SIMPLE INTEREST
SIMPLE INTEREST
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13.<br />
=Rs.10123.20.<br />
The compound interest on Rs. 30,000 at 7% per annum is Rs. 4347. The period (in<br />
years) is<br />
A. 2 B. 2½<br />
C. 3 D. 4<br />
Solution<br />
Amount<br />
=Rs(30000 + 4347)<br />
= Rs.34347.<br />
Let the time be n years.<br />
= 34347.<br />
=34347/3000<br />
Then, 30000(1+7/100)^n<br />
=11449/1000<br />
=(107/100)^n<br />
n= 2years.<br />
<br />
<br />
<br />
<br />
<br />
<br />
<br />
Answer: Option B<br />
Explanation:<br />
5<br />
5<br />
Amount= Rs. 1600 x 1 + 2+ 1600 x 1 +<br />
2 x 100 2 x 100<br />
= Rs. 1600 x41x41+ 1600 x41
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