The total difference between compound interest and simple interest on a certain sum of money for 2 years at two different rates of 14\(\frac{2}{7}\)% for 1st year and 11\(\frac{1}{9}\)% for 2nd year is Rs.40. The sum of money is:

Rs. 2520

14\(\frac{2}{7}\)% = \(\frac{1}{7}\)

11\(\frac{1}{9}\)% = \(\frac{1}{9}\)

Here, for 2 years difference:

⇒ \(\frac{Difference}{Principal}\) = \(\frac{1}{7}\) × \(\frac{1}{9}\) = \(\frac{1}{63}\)

ATQ,

⇒ 1R = 40

⇒ Principal = 63R = 63 × 40 = Rs.2520