Multiple choice

A borrows Rs.$800$ at the rate of $12\%\,p.a.$ simple interest and $B$ borrows Rs. $910$ at the rate of $10\%\,p.a.$ simple interest. In how many years will their amounts of debts be equal?

  1. $\;18$ years
  2. $\;20$ years
  3. $\;22$ years
  4. $\;24$ years
Reveal answer Fill a bubble to check yourself
C Correct answer
Explanation

Let t be the time in years. The amount for A is 800 + (800 * 0.12 * t) and for B is 910 + (910 * 0.10 * t). Setting these equal, 800 + 96t = 910 + 91t, which simplifies to 5t = 110, so t = 22 years.

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