Ajmal borrows Rs. 7500 at 13% p.a. simple interest and Sanjay borrows Rs. 8500 at 11% p.a. simple interest. In how many years will their borrowed amounts (debt) be equal?

The respective amounts to be repaid are given by the simple interest formula, so Ajmal's amount is 7500 plus (7500 multiplied by 13 multiplied by t divided by 100), which equals 7500 plus 975t, and Sanjay's amount is 8500 plus (8500 multiplied by 11 multiplied by t divided by 100), which equals 8500 plus 935t. Setting the two amounts equal gives 7500 plus 975t equals 8500 plus 935t. Solving for t gives 40t equals 1000, so t equals 25 years. The result is 25.

• Thanks
• Wrong explanation