So the waiting time for a bus has density f(t)=λe−λtf(t)=λe−λt, where λλ is the rate. To understand the rate, you know that f(t)dtf(t)dt is a probability, so λλ has units of 1/[t]1/[t]. Thus if your bus arrives rr times per hour, the rate would be λ=rλ=r. Since the expectation of an exponential distribution is 1/λ1/λ, the higher your rate, the quicker you'll see a bus, which makes sense.
So define X=min(B1,B2)X=min(B1,B2), where B1B1 is exponential with rate 33 and B2B2 has rate 44. It's easy to show the minimum of two independent exponentials is another exponential with rate λ1+λ2λ1+λ2. So you want:
P(X>20 minutes)=P(X>1/3)=1−F(1/3),P(X>20 minutes)=P(X>1/3)=1−F(1/3),where F(t)=1−e−t(λ1+λ2)F(t)=1−e−t(λ1+λ2).