James took a loan of Rs. 500.00 from a local moneylender and Kabeer took the same amount from cooperative society. James paid Rs. 11.00 every day for 55 days to repay the loan. Kabeer paid Rs. 600.00 to the bank after 55 days. Both the loans were closed by 55 days. Who has paid more amount and by how much?
1
Kabeer; Rs. 5.00 more than that of James.
2
James; Rs. 5.00 more than that of Kabeer.
3
Kabeer; Rs. 10.00 more than that of James.
4
Both of them paid equal amount