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  Answers
A) $600	B) $1000	C) $1200	D) $1500	E) $2000
20% of (Year 1 Interest) = 20% of (20% of Principal) = 48   Principal = $1200   Answer ($1200)
<result>C</result>
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