Mathematics · Simple Interest
Two banks, A and B, offered loans at 3.5% and 7.5% per annum simple interest, respectively. Mohan borrowed an amount of ₹2,60,000 from each bank. Find the positive difference (in ₹) between the amounts of simple interest paid to the two banks by Mohan after 2 years.
Verified Solution4 OptionsUpdated: October 2026👁️1 View
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- 122,300
- 220,300
- 321,800
- 420,800✓
Correct answer
20,800
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