An agriculture Co-operative society gives agricultural loan to its member at the rate of simple interest of 4% per annum. But an interest is to be gives at the rate of simple interest of 7.4% per annum for a loan taken from the bank. If a farmer being a number of the Co-operative society takes a loan of ₹ 5000 from lit instead of taking loan from the bank, then let us write, by calculating the money to be saved as interest per annum.