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?

Interest earned in scheme M =   

$P1 + \frac{20}{100}2 - 1 = \frac{11P}{25}$

Interest earned in scheme N =  

$\frac{P x k x 2}{100} = \frac{Pk}{50}$

Now, from the given data,

$\frac{11P}{25} = 2 x \frac{Pk}{50}$

k = 11