On a certain sum of money, the simple interest for 2 years is Rs 350 at the rate

Question

On a certain sum of money, the simple interest for 2 years is Rs 350 at the rate of 4% per annum. If it was invested at compound interest at the same rate for the same duration as before, how much more interest would be earned?

Options:

A . Rs. 3.50

B . Rs. 7

C . Rs. 14

D . Rs. 35

Answer: Option B

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