Two banks, A and B, offered loans at 3.5% and 6% per annum, respectively. David borrowed an amount of ₹480000 from each bank. Find the positive difference between the amounts of simple interest paid to the two banks by David after 4 years.

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Two banks, A and B, offered loans at 3.5% and 6% per annum, respectively. David borrowed an amount of ₹480000 from each bank. Find the positive difference between the amounts of simple interest paid to the two banks by David after 4 years.

A48000

B49000

C47500

D49500

Answer:

A. 48000

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