Now,

Since, the given matrices are equal, their corresponding elements are also equal.

Comparing the corresponding element, we have:

3x + 7 = 0

5 = y – 2

⇒ y = 7

y + 1 = 8

⇒ y = 7

And 2 – 3x = 4

Thus, on comparing the corresponding elements of the two matrices, we get different values of x, which is not possible.

Therefore, it is not possible to find the values of x and y for which the given matrices are equal.