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The interest earned by investing a sum o...

The interest earned by investing a sum of money in scheme A for two years is ₹450 more than the interest earned when the same sum is invested in scheme B for the same period. If scheme A offers compound interest (compounded annually) at `30%` pa and scheme B offers SI at the same rate of interest respectively, what was the sum invested in each scheme?

A

₹ 1800

B

₹ 1600

C

₹ 2200

D

₹ 5000

Text Solution

Verified by Experts

The correct Answer is:
D
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