Two banks, A and B, offered loans at 3.5% and 6% per annum, respectively. Atul borrowed an amount of ₹5,00,000 from each bank. Find the positive difference between the amounts of simple interest paid to the two banks by Atul after 4 years.​

Correct option is A

Given:
- Loan amount from Bank A = ₹5,00,000
- Loan amount from Bank B = ₹5,00,000
- Interest rate for Bank A = 3.5% per annum
- Interest rate for Bank B = 6% per annum
- Time period = 4 years
Formula Used:
Simple Interest (SI) =  $$\frac{(P × R × T) }{100}$$​​
Where:
P = Principal amount, R = Rate of interest per annum, T = Time in years
Solution:
- Simple Interest from Bank A =  $$\frac{(500000 × 3.5 × 4) }{ 100} = ₹70,000$$​​

- Simple Interest from Bank B =  $$\frac{(500000 × 6 × 4) }{100} = ₹1,20,000$$​​
- Positive Difference = |₹70,000 - ₹1,20,000| = ₹50,000
- The positive difference between the amounts of simple interest paid to the two banks after 4 years is ₹50000.0.