ECONOMICS
COMPOUND INTEREST
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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Ben deposits $ 30000 in a bank at 7% per annum compound interest for a certain time is $ 4347. The time is ____
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2 years
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2¹/₂ years
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3 years
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4 years
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Explanation:
Detailed explanation-1: -So, the time period will be 2 years.
Detailed explanation-2: -The compound interest on Rs. 30, 000 at 7% per annum is Rs. 4, 347.
Detailed explanation-3: -Find the difference between the compound interest and the simple interest on rs 30000 at 7% per annum for three years . please answer very fast. This question answer is 451.29.
Detailed explanation-4: -Detailed Solution. ∴ The compound interest is Rs. 7, 752.
There is 1 question to complete.