Question

A sum of Rs 1200 was lent at a simple interest rate of 6 1/4 % p.a. and another sum of Rs 1000 was lent at a simple interest rate of 813 % p.a. After how many years will the amounts in the two investments be equal?

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Answer 1

let the amount be equal after m years

A1 = 1200(1+ 6.25%x m)

A2 = 1000(1+ 8.33%×m)

A1 =A2

1200(1+0.0625m) = 1000(1+0.0833m)

1.2+ 0.075m = 1+0.0833m

0.2 = 0.0083m

m = 24

after 24 years

Answer 2

Answer:

Answer given in the attached picture

Step-by-step explanation:

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