Mr. Karim borrowed Tk. 500 at 5% simple interest per year. After some time, he borrowed Tk. 400 at 3*1/2 simple interest per year for the second time. Six months after the second time borrowing, he repaid both the borrowed money along with interest and the amount repaid was TK. 994.50. How many years after the first time borrowing Mr. Karim repaid the borrowed money? (Interest)

Shohan

13 views

2025-01-04 04:42

1 Answers

Shohan

Let, Mr. Karim his first borrowings after x years

Interest = 994.5 - 500 - 400= 94.5

According to the question:

$(500 \times 5 % \times x) (400 \times 3.5 % \times \frac{6}{12}) = 94.5 \Rightarrow 25 x + 7 = 94.5 \Rightarrow 25 x = 94.5 - 7 \Rightarrow 25 x = 87.5 ∴ x = \frac{87.5}{25} = 3.5 y e a r s$

13 views Answered 2024-12-14 13:31

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