Compound Interest (CI) formula:

CI = P × (1 + R/100)^Time – P

Given values:

P = Rs. 30,000

CI = Rs. 4347

R = 7% per annum

Rearrange the CI formula to solve for Time:

(1 + R/100)^Time = (CI + P) / P

(1 + 7/100)^Time = (4347 + 30000) / 30000

(1.07)^Time = 34347 / 30000

(1.07)^Time = 1.1449

Now, take the logarithm (base 10) of both sides:

Time × log(1.07) = log(1.1449)

Time = log(1.1449) / log(1.07)

Time ≈ 2

The period is approximately 2 years.