The difference between the compound interest and simple interest on a certain sum for 2 years at 15% per annum is ₹45. Find the sum.

₹2000

Let the principal be Rs. P.

According to the question,

The difference between the compound interest and simple interest for 2 years = PR²/(100)²

⇒ 45 = P × 15 × 15/10000

⇒ P = Rs.2000

∴ The value of the sum is Rs. 2000.