In what period, the compound interest on ₹30,000 at 7% per annum amounts to ₹4,347 —
CS CSEET · Business Economics & Fundamentals of Accounting and Auditing · PYQS · December 2013
In what period, the compound interest on ₹30,000 at 7% per annum amounts to ₹4,347 —
Answer & Explanation:
Correct Answer: Option (A)
Correct answer: (A) 2 years. 30,000×[(1.07)²−1] = 4,347, hence two years.
Topics: Business Economics
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