Mathematics · Simple Interest
Two banks, A and B, offered loans at 4.5% and 5.5% per annum simple interest, respectively. Ramesh borrowed an amount of Rs. 2,00,000 from each bank. Find the positive difference in the amounts of simple interest paid to the two banks by Ramesh after 2 years.
Verified Solution4 OptionsUpdated: October 2026👁️1 View
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- 1Rs. 6,000
- 2Rs. 8,000
- 3Rs. 4,000✓
- 4Rs. 2,000
Correct answer
Rs. 4,000
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