chancellor vs prime minister

chancellor and prime minister both are nouns.

Word	Noun	Adjective	Verb	Adverb
chancellor	Yes	No	No	No
prime minister	Yes	No	No	No

As nouns, chancellor and prime minister are synonyms defined as:

chancellor and prime minister: the person who is head of government (in several countries)

Other synonyms of chancellor include premier.

chancellor (noun)	prime minister (noun)
the person who is head of government (in several countries)	the person who is head of government (in several countries)
the honorary or titular head of a university