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
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