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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?

Guest Feb 22, 2018
 #1
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We want to solve this

 

Principal + Interest  = Principal + Interest

 

100 + 100 (.10)D  =  150 + 150(.05)D        

 

Where D  is the number of days that will equalize the debt

 

Subtract 100 from both sides  and simplify

 

10D   =  50  + 7.5D         subtract  7.5D  from both sides

 

2.5D  =  50     divide both sides by 2.5

 

D =  20 days

 

 

 

cool cool cool

CPhill  Feb 22, 2018

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