Sakib and Labib individually borrowed different amount of money from a particular bank on the same day at rate of 20% simple interest . The total money paid by Sakib in 3 years as principal plus interest was the same amount Labib paid 2 years as participial plus interest. Find the rating of their individual loan amount.
(interest)Let, Shakib borrowed Tk. and Lahib borrowed y Tk.
So, Shakib's principal + Interest of 3 years = Labib's principal + Interest of 2 years
⇒x+x×20×3100=y+y×20×2⇒5x+3x5=5y+2y5⇒8x5=7y5⇒
ans. Ratio of Shakib & Tabib's loan amount is 7. 8.