SSC CGL Tier II 1 Dec 2016 Paper 1

Question : 47 of 100

Marks: +1, -0

The compound interest on Rs. 30,000 at 7% per annum for n years is Rs. 4347. The value of n is

Solution:

(2) Amount = Rs. (30000 + 4347) = Rs. 34347

A=P (1+ {R}/{100} )^{\T}

⇒ 34347=30000 (1+ {7}/{100} )^{n}

⇒{34347}/{30000}= ( {107}/{100} )^{n}

⇒{11449}/{10000}= ( {107}/{100} )^{n}

⇒( {107}/{100} )^{2}= ( {107}/{100} )^{n}

⇒n=2

years

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