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    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?
    A 1,722 Correct Answer Incorrect Answer
    B 1,272 Correct Answer Incorrect Answer
    C 1,372 Correct Answer Incorrect Answer
    D 1,270 Correct Answer Incorrect Answer

    Solution

    The correct answer is B

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