The difference between simple and compound interests compounded annually on a certain sum of money for 2 years at 16% per annum is Rs 320. What is the value of given sum (in Rs)?

The difference between simple and compound interests compounded annually on a certain sum of money for 2 years at 16% per annum is Rs 320. What is the value of given sum (in Rs)?
1). 25000
2). 50000
3). 37500
4). 12500

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