Two banks, A and B, offered loans at 3.5% and 6% per annum, respectively. Chetan borrowed an amount of ₹440000 from each bank. Find the positive difference between the amounts of simple interest paid to the two banks by Chetan after 3 years. 

Given:

Amount borrowed from bank A = ₹440000

Amount borrowed from bank B = ₹440000

Rate of interest for bank A = 3.5% per annum

Rate of interest for bank B = 6% per annum

Time = 3 years

Formula used:

Simple Interest (SI) = (P × R × T) / 100

Where P = Principal, R = Rate of interest, T = Time

Calculation:

Simple interest for bank A = (440000 × 3.5 × 3) / 100 = 46200

Simple interest for bank B = (440000 × 6 × 3) / 100 = 79200

Difference in simple interest = 79200 - 46200 = 33000

∴ The positive difference in the amounts of simple interest paid to the two banks by Chetan after 3 years is ₹33,000.