Question

The simple interest on a sum of money for 2 years at 4% per annum is 340. Find:
i. The sum of money
ii. The compound interest on this sum for one year payable half-yearly at the
same rate.
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Answer 1

Answer:

1. 425

Step-by-step explanation:

SI=(PRT)/100

340=(2*4*P)/100

3400=8*P

3400/8=P

425=P