Multiple Choice Questions on Ajay borrows Rs 1000 at the rate of 12 per annum simple interest and Babu borrows Rs 1050 at the rat........... for Mathematics - All Exams Preparation

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Multiple Choice Questions

Ajay borrows Rs 1000 at the rate of 12 per annum simple interest and Babu borrows Rs 1050 at the rat...........

Quantitative Aptitude ( CCS) Simple Interest
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    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?

    18/5

    Incorrect Answer

    10/3

    Correct Answer

    22/3

    Incorrect Answer

    10/5

    Incorrect Answer
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    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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