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The difference between simple interest and compound interest of a certain sum of money at 20% per annum for 2 years is ₹ 48. Then the sum is
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- ₹ 1,000
- ₹ 1, 200
- ₹ 1, 500
- ₹ 2, 000
Correct Option: B
Given that , Difference = C.I. - S.I. = ₹ 48 , Time = 2 years , Rate = 20%
Using the given formula ,
| Difference of two years = P |  |  | |
| 10000 |
| ⇒ 48 = P | | | |
| 10000 |
| ⇒ 48 = | |
| 25 |
⇒ P = 48 × 25 = ₹ 1200
