Exams › IBPS PO › Quantitative Aptitude
The compound interest on Rs. 30,000 at 7% per annum is Rs. 4347. The period (in years) is:
- 2
- 2 1/2
- 3
- 4
Correct answer: 2
Solution
If CI = 4347, then amount = 30000 + 4347 = 34347. Now 30000(1.07)^2 = 34347, so the time is 2 years.
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