Question 513648
Difference in %age =12.25-11.5=0.75%
0.75% of $8,000 = (.75*8000)/100=60
He will save $60

Another way to solve this problem

12.25% of 8000 = (12.25*8000)/100=980
11.50% of 8000 = (11.5*8000)/100=920

At bank B he will have to pay extra = 980
At bank A he will have to pay extra = 920
if he borrows money from Bank A he will save = 980-920=$60