Question

If the interest on 1700 rupees is 340 rupees for 2 years the rate of interest must be

Answer 1

Hey!!!
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●Here,P=Rs.1700
Simple Interest=Rs.340
T=2 years
ATQ
We know that p×r×t/100=SI
1700×r×2/100=340
34r=340
r=340/34
r=10
Hence,Rate=10%p.a
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Hope it helps!!! :)

Answer 2

which interest simple or compound

if simple then
let the rate of interest be x,
A.T.Q

340 = 1700×2×x/100
340= 3400x/100
340= 34x
340/34 = x

10 = x

if compound then

2140 = 1700(1+r/100)^2

2140/1700 = (1+r/100)^2