Quant Exam  >  Quant Questions  >  Ajay borrows Rs 1000 at the rate of 12% per a... Start Learning for Free
Ajay borrows Rs 1000 at the rate of 12% per annum simple interest and Babu borrows Rs 1050 at the rate of 10% per annum simple interest. In how many years will their amounts of debts be equal?
  • a)
    18/5
  • b)
    10/3
  • c)
    22/3
  • d)
    10/5
  • e)
    None of the Above
Correct answer is option 'B'. Can you explain this answer?
Verified Answer
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
View all questions of this test
Most Upvoted Answer
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
Free Test
Community 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.
Explore Courses for Quant exam

Similar Quant Doubts

Ajay borrows Rs 1000 at the rate of 12% per annum simple interest and Babu borrows Rs 1050 at the rate of 10% per annum simple interest. In how many years will their amounts of debts be equal?a)18/5b)10/3c)22/3d)10/5e)None of the AboveCorrect answer is option 'B'. Can you explain this answer?
Question Description
Ajay borrows Rs 1000 at the rate of 12% per annum simple interest and Babu borrows Rs 1050 at the rate of 10% per annum simple interest. In how many years will their amounts of debts be equal?a)18/5b)10/3c)22/3d)10/5e)None of the AboveCorrect answer is option 'B'. Can you explain this answer? for Quant 2024 is part of Quant preparation. The Question and answers have been prepared according to the Quant exam syllabus. Information about Ajay borrows Rs 1000 at the rate of 12% per annum simple interest and Babu borrows Rs 1050 at the rate of 10% per annum simple interest. In how many years will their amounts of debts be equal?a)18/5b)10/3c)22/3d)10/5e)None of the AboveCorrect answer is option 'B'. Can you explain this answer? covers all topics & solutions for Quant 2024 Exam. Find important definitions, questions, meanings, examples, exercises and tests below for Ajay borrows Rs 1000 at the rate of 12% per annum simple interest and Babu borrows Rs 1050 at the rate of 10% per annum simple interest. In how many years will their amounts of debts be equal?a)18/5b)10/3c)22/3d)10/5e)None of the AboveCorrect answer is option 'B'. Can you explain this answer?.
Solutions for Ajay borrows Rs 1000 at the rate of 12% per annum simple interest and Babu borrows Rs 1050 at the rate of 10% per annum simple interest. In how many years will their amounts of debts be equal?a)18/5b)10/3c)22/3d)10/5e)None of the AboveCorrect answer is option 'B'. Can you explain this answer? in English & in Hindi are available as part of our courses for Quant. Download more important topics, notes, lectures and mock test series for Quant Exam by signing up for free.
Here you can find the meaning of Ajay borrows Rs 1000 at the rate of 12% per annum simple interest and Babu borrows Rs 1050 at the rate of 10% per annum simple interest. In how many years will their amounts of debts be equal?a)18/5b)10/3c)22/3d)10/5e)None of the AboveCorrect answer is option 'B'. Can you explain this answer? defined & explained in the simplest way possible. Besides giving the explanation of Ajay borrows Rs 1000 at the rate of 12% per annum simple interest and Babu borrows Rs 1050 at the rate of 10% per annum simple interest. In how many years will their amounts of debts be equal?a)18/5b)10/3c)22/3d)10/5e)None of the AboveCorrect answer is option 'B'. Can you explain this answer?, a detailed solution for Ajay borrows Rs 1000 at the rate of 12% per annum simple interest and Babu borrows Rs 1050 at the rate of 10% per annum simple interest. In how many years will their amounts of debts be equal?a)18/5b)10/3c)22/3d)10/5e)None of the AboveCorrect answer is option 'B'. Can you explain this answer? has been provided alongside types of Ajay borrows Rs 1000 at the rate of 12% per annum simple interest and Babu borrows Rs 1050 at the rate of 10% per annum simple interest. In how many years will their amounts of debts be equal?a)18/5b)10/3c)22/3d)10/5e)None of the AboveCorrect answer is option 'B'. Can you explain this answer? theory, EduRev gives you an ample number of questions to practice Ajay borrows Rs 1000 at the rate of 12% per annum simple interest and Babu borrows Rs 1050 at the rate of 10% per annum simple interest. In how many years will their amounts of debts be equal?a)18/5b)10/3c)22/3d)10/5e)None of the AboveCorrect answer is option 'B'. Can you explain this answer? tests, examples and also practice Quant tests.
Explore Courses for Quant exam
Signup for Free!
Signup to see your scores go up within 7 days! Learn & Practice with 1000+ FREE Notes, Videos & Tests.
10M+ students study on EduRev