Expanding the left side of the equation:

(5x-1)(5x+1) = 25x^2 - x^2 - 1 = 24x^2 - 1

Adding it to 20x^2, we get:

24x^2 - 1 + 20x^2 = 44x^2 - 1

Therefore, the equation becomes:

44x^2 - 1 = 7x - 3

Rearranging the terms:

44x^2 - 7x = -2

Dividing by x on both sides:

44x - 7 = -2/x

Multiplying both sides by x:

44x^2 - 7x = -2

Therefore, the equation simplifies to:

44x^2 - 7x + 2 = 0