Problema Solution
David lends his brother some money 8% simple interest, and he lent his siter twice as much as twice the interest rate. If he received a total of $20.00 interest, then how much did he lend to each of them?
Answer provided by our tutors
let 'x' represent the amount of money lent to his brother, then '2x' represents the amount of money lent to his sister
interest = principal * rate * time
we assume time to be equal to 1
20 = 0.08x + 0.16(2x)
solving for 'x' we have x=50
50*2 = 100
David lent $50 to his brother and $100 to his sister