A certain amount P is invested in scheme A for 3 years at a simple interest of 8% per annum and the same amount P is invested in scheme B for 3 years at 8% per annum compounded annually. If the difference in the interest earned is ₹197.12, then find the value of P.
1
₹10,000
2
₹7,000
3
₹8,000
4
More than one of the above
5
None of the above