Two banks, A and B, offered loans at annual rates of 3.5% and 8.5% respectively. Shivam took a loan of ₹2,40,000 from each bank. Find the positive difference (in ₹) between the amounts of simple interest repaid by Shivam to the two banks after 4 years.
Subject: Mathematics | Topic: Arithmetic | Difficulty: MEDIUM
Options
- (A) 49,000
- (B) 47,500
- (C) 49,500
- (D) 48,000
Verified Answer
Option (D): 48,000
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