Ajay borrows Rs 1000 at the rate of 12% per annum simple interest and ...
B. 10/3
Explanation: Let Time = x years Then, [1000+(1000*12*x)/100] = [1050+(1050*10*x)/100] => 1000 + 120x = 1050 + 105x => 15x = 50 ⇒ x = 10/3 years
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Ajay borrows Rs 1000 at the rate of 12% per annum simple interest and ...
Let Time = x years Then,
[1000+(1000*12*x)/100] = [1050+(1050*10*x)/100] => 1000 + 120x = 1050 + 105x
=> 15x = 50
⇒ x = 10/3 years
HENCE OPTION B IS THE ANSWER
Ajay borrows Rs 1000 at the rate of 12% per annum simple interest and ...
To find the number of years it will take for Ajay and Babu's debts to be equal, we can set up the equation:
Ajay's debt = Babu's debt
Using the formula for simple interest:
Ajay's debt = Principal + (Principal * Rate * Time)
Babu's debt = Principal + (Principal * Rate * Time)
Given that Ajay borrowed Rs 1000 at a rate of 12% per annum, and Babu borrowed Rs 1050 at a rate of 10% per annum, we can substitute these values into the equation:
1000 + (1000 * 0.12 * Time) = 1050 + (1050 * 0.10 * Time)
Simplifying the equation:
1000 + 120 * Time = 1050 + 105 * Time
Combining like terms:
120 * Time - 105 * Time = 1050 - 1000
15 * Time = 50
Dividing both sides by 15:
Time = 50 / 15
Time = 10/3
Therefore, it will take 10/3 years for Ajay and Babu's debts to be equal.
Therefore, the correct answer is option B) 10/3.