The simple interest on a certain sum of money for 2 years at 7% per annum is double the compound interest on ₹1,000 for 2 years at 10% per annum, compounded annually. What is the sum placed on simple interest?
1
₹1,000
2
₹2,000
3
₹3,000
4
₹4,000
5
Question Not Attempted