Etymology
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broke (adj.)

from obsolete past participle of break (v.); extension to "insolvent" is first recorded 1716 (broken in this sense is attested from 1590s). Old English cognate broc meant, in addition to "that which breaks," "affliction, misery."

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Definitions of broke

broke (adj.)
lacking funds;
Synonyms: bust / skint / stone-broke / stony-broke
From wordnet.princeton.edu