Solve the following mathematics problems:

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)

Created: 1 year ago | Updated: 1 year ago

Updated: 1 year ago

Let, Shakib borrowed Tk. and Lahib borrowed y Tk.

So, Shakib's principal + Interest of 3 years = Labib's principal + Interest of 2 years

$\Rightarrow x + \frac{x \times 20 \times 3}{100} = y + \frac{y \times 20 \times 2}{} \Rightarrow \frac{5 x + 3 x}{5} = \frac{5 y + 2 y}{5} \Rightarrow \frac{8 x}{5} = \frac{7 y}{5} \Rightarrow 8 x = 7 y \Rightarrow \frac{x}{y} = \frac{7}{8} \Rightarrow x : y = 7 : 8$