A person invested Rs. 2,000 on simple interest for 7 years to obtain a total amount of Rs. 3,400 on a certain annual rate of interest. What was the rate of interest to obtain the above amount ?
What is the difference between the compound interest on a sum of ₹10,000 at 12% p. a. for \(1{1\over4}\) years when the interest is compounded annually and when the interest is compounded 5-monthly? (nearest to a ₹)