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( b ) Ahmed is considering a loan of Rs 3 5 0 0 0 0 . Ile has two options: Bank.A . S .

(b) Ahmed is considering a loan of Rs 350000. Ile has two options:
Bank.A. S. z% per annum, compounding monthly
Bank B.7.5% per annum, compounding weekly.
Which option should be selected? Justify your answer using effective interest rate.
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