okay, lets say the two branches are perfectly symmetrical, meaning that 40m3/hr goes down to each branch.
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That said, it boils down to the available static head (mainly the elevation of tank + tank liquid level) vs the pressure loss for the whole system. You just have to find out the flowrate that corresponds to the frictional head that then corresponds to your available static head (no pressure head exists since both are atmospheric).
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How do i find out the tank liquid level in this case? Also, i don't understand why there will be pressure loss for the whole system since both are open to atmosphere. Another thing is, how do i find out the flowrate that corresponds to the frictional head?
Another query is, is Manning's equation useful in this scenario?
Thanks for the reply!
That's the whole point of the exercise, to find the tank level that's required to push 80m3/hr of fluid through your piping 
You have to do a hydraulic balance to realize that while you don't have any pressure delta (both are atmospheric), you'd have static head and this will be your driving force to push the fluid through your piping.
The whole idea is when you have flow in a pipe, it will generate frictional losses. Basically you'd want to balance this frictional loss on your available driving force (which in this case is your static head).
So you can set your flow at 80m3/hr and calculate the overall frictional loss, and from that value, you can back calculate the required height, which will correspond to the required tank height.
For the calculation of overall pressure loss considering the split from the tank, I'll give you some pointers that will help you nudge in the right direction (B1 and B2 are branch 1 and 2 respectively and B3 is the common downstream line going to pond):
1. You can do 2 separate calculations for line B1->B3 and line B2-B3
2. Fix the flow for B3 at 80m3/hr
3. Assume a certain flow for B1 (which of course is lower than 80m3/hr)
4. Flow for B2 would be B3-B1 (obviously)
5. Calculate the pressure drop for both lines using the flows above
6. The goal is to match exactly the pressure loss for both pipes. If one line is higher (say B1->B3), reduce the flow for B1 (and increase the flow for B2) and do step 5 until both pressure losses match
I have to give it to katmar though, he has tackled the scenarios that might happen out in the field. Although I tend to think that this is more of an exercise to do hydraulic calculation than dealing with an actual issue 