Anil invests an amount for 2 years at the rate of 15% per annum at simple interest.Had he invested in a scheme in which interest was compounded yearly he would have got Rs.450 more. Find the principal
Choose one:	A) Rs.8,000	B) Rs.15,000	C) Rs.20,000	D) Rs.10,000	E) Rs.30,000
Difference D between compound and simple interest for 2 years,   D=P*(R/100)^2   where P is the principal   R is rate of interest   so here,   450=P*(0.15)^2   =&gt; P=20000   ANSWER:Rs.20,000
<result>C</result>
Anil invests an amount for 2 years at the rate of 15% per annum at simple interest.Had he invested in a scheme in which interest was compounded yearly he would have got Rs.450 more. Find the principal