P = I X E
P = power, watts, va
I = amps
E = voltage
P is the same on both sides of the xfmr.
I would agree more than likely the problem is caused by a ground loop.
Jetrexpro,
I can only assume the step-up transformer is an autotransformer.
Could easily be checked with a continuity test.
Unplug the xfmr from the 120V power....
The neutral blade on the 120V plug will have a common continuity with the 240V neutral contact of the 240V receptacle.
At the 240V receptacle, there should not be any continuity between the safety ground contact, of the recept, and the neutral contact of the receptacle.
A temporary test using a ground cheater could be used on the 120V plug of the xfmr just to check for sure the problem is indeed a ground loop hum problem. (Only perform this test if the xfmr is an autotransformer.)