a) 3 years
b) 4 years
c) 2 years
d) 2.5 years

Answer: c
Explanation:
$$\eqalign{ & {\text{Principal = Rs}}{\text{. 30000}} \cr & {\text{CI = Rs 4347}} \cr & {\text{Rate = 7}}\% \cr & {\text{By using formula, }} \cr & \left( {30000 + 4347} \right) = 30000{\left( {1 + \frac{7}{{100}}} \right)^{\text{t}}} \cr & 34347 = 30000{\left( {1 + \frac{7}{{100}}} \right)^{\text{t}}} \cr & \frac{{34347}}{{30000}} = {\left( {\frac{{107}}{{100}}} \right)^{\text{t}}} \cr & \left( {\frac{{11449}}{{10000}}} \right) = {\left( {\frac{{107}}{{100}}} \right)^{\text{t}}} \cr & {\left( {\frac{{107}}{{100}}} \right)^2} = {\left( {\frac{{107}}{{100}}} \right)^{\text{t}}} \cr & {\text{t}} = 2\,{\text{years}} \cr} $$