A sum of money invested for 2 years at 20% compounded annually and similar money invested for 3 years on simple interest at 10% per annum. If the difference between interests is Rs. 280, then find the sum of money.

A sum of money invested for 2 years at 20% compounded annually and sim

1.	A sum of money invested for 2 years at 20% compounded annually and similar money invested for 3 years on simple interest at 10% per annum. If the difference between interests is Rs. 280, then find the sum of money.
A.	Rs. 2500
B.	Rs. 3000
C.	Rs. 4000
D.	Rs. 2000
E.	Rs. 1500
Answer» E. Rs. 1500

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A sum of money invested for 2 years at 20% compounded annually and similar money invested for 3 years on simple interest at 10% per annum. If the difference between interests is Rs. 280, then find the sum of money.

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