Quantity I. The sum on which simple interest earned is Rs.2340 at the rate 6% per annum in 2 yr. Quantity II. The sum of money that earned Rs. 5 simple interest per day at the rate of 5% per annum in 2017.

To determine the relationship between Quantity I and Quantity II, we will calculate the value of each sum step-by-step.

Quantity I: The sum on which simple interest earned is Rs. 2340 at the rate of 6% per annum in 2 years.
Let the principal sum for Quantity I be $P_1$.
The formula for simple interest (SI) is:
$\mathrm{SI}=\frac{P\times R\times T}{100}$
Where:
SI = Rs. 2340
Rate (R) = 6% per annum
Time (T) = 2 years
Substituting these values into the formula:
$2340=\frac{P_1\times 6\times 2}{100}$
$2340=\frac{12P_1}{100}$
$12P_1=234000$
$P_1=\frac{234000}{12}$
$P_1=19500$
So, Quantity I = Rs. 19,500.

Quantity II: The sum of money that earned Rs. 5 simple interest per day at the rate of 5% per annum in 2017.
Let the principal sum for Quantity II be $P_2$.
The year 2017 is a non-leap year, which means it has 365 days.
The total simple interest earned in the year is:
$\mathrm{SI}=\mathrm{Rs.}5\times 365=\mathrm{Rs.}1825$
Rate (R) = 5% per annum
Time (T) = 1 year
Substituting these values into the simple interest formula:
$1825=\frac{P_2\times 5\times 1}{100}$
$1825=\frac{5P_2}{100}$
$5P_2=182500$
$P_2=\frac{182500}{5}$
$P_2=36500$
So, Quantity II = Rs. 36,500.

Comparison:
Comparing the two values:
Quantity I = Rs. 19,500
Quantity II = Rs. 36,500
Clearly, 19,500 < 36,500, which means Quantity I < Quantity II.