Sanjay borrowed twice the money borrowed by Alkesh at the same intrest of 12% p.a for 4 years. Ig Alkesh paid Rs 72000 less than the intrest paid by Sanjay, find the money borrowed by them
Alkesh borrowed -- x
Sanjay borrowed -- 2x
So, how much interest did Sanjay pay?
see where that takes you. (I think the actual question is garbled...)
Let's assume that Alkesh borrowed an amount of x rupees.
1. Sanjay borrowed twice the money borrowed by Alkesh. So, Sanjay borrowed 2x rupees.
2. The interest rate is 12% per annum.
3. Both Alkesh and Sanjay borrowed the money for 4 years.
To find the money borrowed by Alkesh and Sanjay, we need to calculate the interest paid by each of them.
The formula to calculate simple interest is:
Interest = (Principal * Rate * Time) / 100
For Alkesh:
Interest_A = (x * 12 * 4) / 100
For Sanjay:
Interest_S = (2x * 12 * 4) / 100
According to the given information, Alkesh paid Rs 72000 less than the interest paid by Sanjay. So, we can set up the following equation:
Interest_S - Interest_A = Rs 72000
Substituting the above values, we get:
((2x * 12 * 4) / 100) - ((x * 12 * 4) / 100) = Rs 72000
Simplifying the equation:
(24x - 12x) = (72000 * 100) / 48
12x = 1500000
Dividing both sides of the equation by 12, we get:
x = 125000
Therefore, Alkesh borrowed Rs 125000, and Sanjay borrowed twice the amount, which is Rs 250000.