Plz help me
Sanjay borrowed twice the money browed by alkesh at the same rate of intrest of 12% per anum for 4 years.if alkesh paid rs.72000 less than the intrest paid by sanjay,find the money borowed by them.
Plz help me tmrw my test
Sanjay Alkesh
P1=2x p2=X
N=4 N=4
R=12. R =12
To solve this problem, we can set up two equations based on the given information.
Let's assume that the amount of money borrowed by Alkesh is x (in rupees).
Therefore, the amount of money borrowed by Sanjay would be 2x (twice the amount borrowed by Alkesh).
Now we will use the following formula to calculate the interest (I) paid on a loan:
I = P * R * T / 100
Where:
P = Principal amount (the amount borrowed)
R = Rate of interest per annum (12% in this case)
T = Time period (4 years in this case)
Based on the given information, we can calculate the interest paid by Alkesh and Sanjay:
Interest paid by Alkesh = x * 12 * 4 / 100 = 48x / 100 = 0.48x
Interest paid by Sanjay = 2x * 12 * 4 / 100 = 9.6x
According to the problem, Alkesh paid 72,000 rupees less in interest than Sanjay. Therefore, we can set up the equation:
9.6x - 0.48x = 72,000
Simplifying the equation:
9.12x = 72,000
Dividing both sides of the equation by 9.12:
x = 72,000 / 9.12
x ≈ 7,894.74
So, the amount borrowed by Alkesh is approximately 7,894.74 rupees.
And the amount borrowed by Sanjay is twice that, which is approximately 15,789.47 rupees.
Therefore, Alkesh borrowed approximately 7,894.74 rupees, and Sanjay borrowed approximately 15,789.47 rupees.