A Customer Gives You GBP 25,000,000

Multiple Choice

A customer gives you GBP 25,000,000.00 at 0.625% same day for 7 days. Through a broker, you place the funds with a bank for the same period at 0.6875%. Brokerage is charged at 2 basis points per annum. What is the net profit or loss on the deal?

A) ProfitofGBP 299.66
B) Profit of GBP 203.77
C) LossofGBP299.66
D) Loss ofGBP 203.77