Q. An equal sum is invested in two different schemes. One scheme gives simple interest and the other gives compound interest (annual compounding). The total interest obtained after 2 years from both the schemes together is Rs 2090. If both the schemes have 18% per annum interest rate, then what is the first year interest (in Rs) of simple interest scheme?
A) 500
B) 1000
C) 1045
D) 545
✔ Correct Answer: 500
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