2/3 of a principal amount is deposited in the bank at compound interest at the rate of 10% per annum and rest of the principal amount is deposited in the post office at the simple interest rate of 15% per annum. If the difference between compound interest and simple interest for two years be ₹ 480, then total principal amount is equal to
1
₹ 16,000
2
₹ 12,000
3
₹ 10,000
4
₹ 8,000
5
₹ 11,000