Question
The compound interest on Rs. 30,000 at 7%per annum for
n years is Rs. 4347. The value of n isSolution
let A= amount P =principal r = rate of interest n = time A = P(1 + (r/100))n A after n years = 30000+4347 = 34347 P = 30000 r = 7% 34347 = 30000(1 + 7/100))n 34347/30000 = (107/100)n 11449/10000 = (107/100)n (1072 = 11449) n = 2 years
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