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Darren has borrowed 100 clams from Ethan at a 10% simple daily interest. Meanwhile, Fergie has borrowed 150 clams from Gertie at a 5% simple daily interest. In how many days will Darren and Fergie owe the same amounts, assuming that they will not make any repayments in that time period?

Lightning  Aug 4, 2018
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Darren has borrowed 100 clams from Ethan at a 10% simple daily interest. Meanwhile, Fergie has borrowed 150 clams from Gertie at a 5% simple daily interest. In how many days will Darren and Fergie owe the same amounts, assuming that they will not make any repayments in that time period?

 

After n days Darren will owe   100+(10% of 100)*n   =  100+10n  clams

After n days  Fergie will owe    150+(5% of 150)*n     = 150+ 7.5n  clams

 

They will owe the same when these are equal

 

100+10n = 150+7.5n

2.5n         =  50

        n      =   50/2.5

        n      =   200/10

        n      =   20 days

Melody  Aug 5, 2018

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