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Question ⤵️⤵️
A borrows Rs.800 at the rate of 12% per annum simple interest and B borrows Rs.910 at the rate of 10% per annum, simple interest. In how many years will their amounts of debt be equal?
Answer⤵️⤵️
Let after t year amount will be equal.
According to the question,
800 + 100 800 × 12 × t = 910 + 100910 × 10 × t
⇒800 + 96t = 910 + 91t
⇒5t=110
∴t=22years
Hence, after 22 years the amount will be equal.
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