Sumit invested ₹50,000 each in two banks for 2 years. The first bank gives simple interest at the rate of 11% per annum, while the other bank gives compound interest, compounded annually at the rate of 10% per annum. How much interest did he earn from the two banks in 2 years?

A

₹21,000

B

₹10,000

C

₹10,500

D

₹21,500