The difference between the compound interest and the simple interest for 2 years at `8%` per annum on a certain sum of money is Rs 120. Find the sum.

Explanation

To find the sum of money based on the difference between compound interest (CI) and simple interest (SI) over 2 years at an interest rate of 8% per annum, we can follow these steps:

### Step 1: Understand the formulas for CI and SI
- **Simple Interest (SI)** for 2 years is given by the formula:
\[ SI = \frac{P \times R \times T}{100} \]
where \( P \) is the principal amount, \( R \) is the rate of interest, and \( T \) is the time in years.
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