Question
Rahul invested equal sums of money at compound interest under two schemes A and
B. Under scheme A, the interest rate was 10% per annum and under scheme B, the interest rate was 12% p.a. The compound interest after two years on the sum invested in scheme A was 1,050. How much is the interest earned under scheme B after two years, if the interest is compounded annually in both schemes?
Solution
The correct answer is B
More Previous year papers Questions