A sum of Rs. 7930 is divided into three parts and given on loan at 5% simple interest to A, B and C for 2, 3 and 4 years respectively. If the amounts of all three are equal after their respective periods of loan, then B received a loan of
Question
A sum of Rs. 7930 is divided into three parts and given on loan at 5% simple interest to A, B and C for 2, 3 and 4 years respectively. If the amounts of all three are equal after their respective periods of loan, then B received a loan of
Solution
Let's solve the problem step by step:
Step 1: Let's assume that B received a loan of x rupees.
Step 2: Now, let's calculate the simple interest for each person using the formula: Simple Interest = (Principal * Rate * Time) / 100
For person A: Principal = x rupees Rate = 5% Time = 2 years Simple Interest for A = (x * 5 * 2) / 100 = 10x/100 = x/10
For person B: Principal = x rupees Rate = 5% Time = 3 years Simple Interest for B = (x * 5 * 3) / 100 = 15x/100 = 3x/20
For person C: Principal = x rupees Rate = 5% Time = 4 years Simple Interest for C = (x * 5 * 4) / 100 = 20x/100 = x/5
Step 3: According to the problem, the amounts of all three are equal after their respective periods of loan. So, we can set up the equation:
Principal + Simple Interest = Total Amount
For person A: Principal + Simple Interest for A = x + x/10 = 11x/10
For person B: Principal + Simple Interest for B = x + 3x/20 = 23x/20
For person C: Principal + Simple Interest for C = x + x/5 = 6x/5
Step 4: Since the amounts of all three are equal, we can equate the expressions:
11x/10 = 23x/20 = 6x/5
Step 5: Let's solve the equation to find the value of x:
11x/10 = 23x/20
Multiply both sides by 20 to eliminate the denominators:
22x = 23x
Subtract 22x from both sides:
0 = x
Step 6: Since x = 0, it means that B did not receive any loan. Therefore, B received a loan of 0 rupees.
So, B received a loan of 0 rupees.
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