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A = P(1 + rn)
Find the number of years when both amount will be equal:
8000( 1 + 0.12n) = 9100(1 + 0.1n)
8000 + 960n = 9100 + 910n
960n - 910n = 9100 - 8000
50n = 1100
n = 22 years
Answer: (c) 22 years
Answered by
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Q: A borrows ₹ 8000 at 12% per annum simple interest and B borrows ₹ 9100 at 10% per annum simple interest. In how many years will their amount be equal ?
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We know that,
A = P(1 + rn)
The no. of years when both amount will be equal =>
=> 8000( 1 + 0.12n) = 9100(1 + 0.1n)
=> 8000 + 960n = 9100 + 910n
=> 960n - 910n = 9100 - 8000
=> 50n = 1100
=> n = 22 years
Hence,
Your answer is
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