Question

the simple intrest on a sum of money for 2 years at 4% p.a is 340. find the sum of money and compound interst on this sum for 1 year payable half yearly at the same rate ​

Answer 1

Answer:

Step-by-step explanation:

Time=2 years

Rate=4%

Interest=340

now,

P=I*100/T*R

=34,000/2*4

=Rs.4,250 is the interest.