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 1

Let after $t$ year amount will be equal.

According to the question,

$800+\frac{800\times 12\times t}{100}=910+\frac{910\times 10\times t}{100}$

$\Rightarrow 800+96t=910+91t$

$\Rightarrow 5t=110$

$\therefore t=22$years

Hence, after $22$ years the amount will be equal.