A certain amount of money earns Rs. 540 as Simple Interest

A certain amount of money earns Rs. 540 as Simple Interest in 3 years. If it earns a Compound Interest of Rs. 376.20 at the same rate of interest in 2 years, find the amount (in Rupees).

Given in question , S.I. for 3 years = Rs. 540

S.I. for 2 years =	2	× 540 = Rs. 360
	3

C.I. for 2 years = Rs. 376.20
C.I. – S.I. = 376.20 – 360 = Rs. 16.20
We have , S.I. for 1 year = Rs. 180

∴ Rate of interest =	16.20	× 100 = 9% per annum
	180

∴ Principal =	S.I. × 100
	Time × Rate

Here , Time = 1 year , Rate = 9%

Principal =	180 × 100	= Rs. 2000
	1 × 9