Question

A took a loan of rs. 4000 from B at the rate of 15/2% Simple interest per annum. After one year, A again took a loan of rs. 4000 from B at the rate of 8% of simple interest per annum. In how many years, Interest for both the loans will be equal after the first loan.

Answer 1

P1 = 4 000 Rs
r1 = 7.5 %
 
P2 = Rs 4 000
r2 = 8%

   let the interest be equal after n years from the beginning.
    simple   interest on 2st loan = P1 * r1 * n 
    simple Interest on 2nd loan = P2 * r2 * (n - 1)

          P1 * r * n = P2 * r2 * (n-1)
          4000 * 7.5 * n = 4000 * 8 * (n-1)
                 0.5 n =  8
                n = 16 years