Question
A certain sum of money is invested in two schemes: • Scheme A: Compound interest at 10% per annum, compounded annually, for 3 years. • Scheme B: Simple interest at 12% per annum for 4 years, on the same principal. The interest earned from Scheme B exceeds the interest earned from Scheme A by Rs. 1,490. Find the principal and also the total interest earned from both schemes together.
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