Q. Two equal sum are invested in two different schemes. One scheme gives simple interest and the other gives compound interest (annual compounding).The sum of interest obtained after 2 years from both the schemes is Rs 3717. If both scheme have 13% per annum interest rate, then what is the first year interest (in Rs) for simple interest scheme?
A) 1200
B) 900
C) 600
D) 1500
✔ Correct Answer: 900
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