Mathematics · Compound Interest
Kapil invested equal sums of money at compound interest under two schemes, A and B. Under scheme A, the interest rate was 11% per annum and under scheme B, the interest rate was 14% p.a. The compound interest after two years on the sum invested in scheme A was ₹ 1,160.50. How much is the interest earned under scheme B after two years, if the interest is compounded annually in both schemes?
Verified Solution4 OptionsUpdated: October 2026👁️1 View
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- 1₹ 1489
- 2₹ 1498✓
- 3₹ 1894
- 4₹ 1984
Correct answer
₹ 1498
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