The difference between compound and simple interest on a sum of money for 2 years at 5% per annum is Rs. 664. The sum is:
Difference of compound interest and simple interest for 2 years = P(R/100)2= P (5/100)2 ⇒ 664 = P (1/400) ⇒ P = 664 × 400 = Rs. 2,65,600
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