The simple interest accrued on an amount of Rs. P at the end of 4 years is Rs. 1200. What would be the compound interest accrued on the same amount for the same period if amount on compound interest is Rs. 60 more than the amount on S.I.?
1
Rs. 1260
2
Rs. 1500
3
Rs. 1200
4
Rs. 1300
5
Rs. 1320