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% per annum. The compound interest after two years on the sum invested in scheme A was Rs. 1,050. How much is the interest earned under scheme B after two years, if the interest is compounded annually in both schemes?
A. Rs. 1,722
B. Rs. 1,270
C. Rs. 1,272
D. Rs. 1,372
Answer: Option C
This Question Belongs to Arithmetic Ability >> Compound Interest
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