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The compound interest on Tk 30,000 at 7% per annum is TK.4357. The period (in years) is:

The compound interest on Tk 30,000 at 7% per annum is TK.4357. The period (in years) is: Correct Answer 2

We know, C = P ( 1 + r)n So, 34347 = 30, 000 ( 1 + 7/10)n 34347/30000 = (107/100)n 1.14 = ( 1.07)n n = 2

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