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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?

 Aug 4, 2018
 #2
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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

 Aug 5, 2018

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