A certain sum is invested for 2 years in scheme M at 20% p.a. compound – McqOptions

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1.	A certain sum is invested for 2 years in scheme M at 20% p.a. compound interest (compounded annually), Same sum is also invested for the same period in scheme N at k% p.a. simple interest. The interest earned from scheme M is twice of that earned from scheme N. What is the value of k?
A.	7
B.	11
C.	9
D.	13
Answer» C. 9

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