a) 2
b) $$2\frac{1}{2}$$
c) 3
d) 4
Answer: a
Explanation:
$$\eqalign{
& {\text{Amount}} = Rs.\,\left( {30000 + 4347} \right) \cr
& \,\,\,\,\,\,\,\,\,\,\,\,\,\,\,\,\,\,\,\,\,\,\,\, = Rs.\,34347 \cr
& {\text{Let}}\,{\text{the}}\,{\text{time}}\,{\text{be}}\,n\,{\text{years}} \cr
& 30000\,{\left( {1 + \frac{7}{{100}}} \right)^n} = 34347 \cr
& \Rightarrow {\left( {\frac{{107}}{{100}}} \right)^n} = \frac{{34347}}{{30000}} = \frac{{11449}}{{10000}} = {\left( {\frac{{107}}{{100}}} \right)^2} \cr
& n = 2\,{\text{years}} \cr} $$
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