An equal sum is 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 2961. If both schemes have 23% per annum interest rate, then what is the first year interest (in Rs)of simple interest scheme?
A merchant marks the price of his articles 30% above the cost price. He gives some discount on it and earns a profit of 13.75%. What is the discount percentage?