My answer of that question covers this a little bit, and the link fully explains it, but I can go into more detail so you don't have to wade through that giant PDF. I'll link it again here at the bottom, because I'm going to reference equations in it for this answer.
As you might imagine, the total strength of a composite such as the example above is a combination of the two materials. The proportions in which each material contribute to the overall strength are related to the volume fractions of the constituent materials. Because in this case, the lengths of the bars is always equal and the bars are of constant area along their length, we can simplify the volumes to areas. This means that we can compute the elastic modulus using a version of equation 3.1 in the book.
$$E_c=E_{St}A_{St}+E_{Al}A_{Al}$$
Here, St and Al are steel and alumin(i)um, respectively, the c subscript refers to the composite, and A is the area fraction, not the total area. So in the example problem, $A_{St}=0.5$ and $A_{Al}=0.5$.
To calculate the stress in the bars, we simply use the definition of stress, given that we can measure the strain and we know the strain is the same in all bars.
$$\sigma_c=\epsilon E_c=\epsilon E_{St}A_{St}+\epsilon E_{Al}A_{St}=\sigma_{St} A_{St}+\sigma_{Al} A_{Al}$$
At this point, though, it's important to note that we are seeing different stresses in the bars of different material, which is a natural result of them having the same strain but different elastic moduli. Unless the materials break at the same strain, one of them will fail first, at which point, the same load will be applied to the whole system, but only one type of bar will still be intact to carry that load. The total cross sectional area of the system is reduced as well though.
We need to determine which material breaks first. Because we're applying a known strain rate here, we can find the ultimate strain of each material using the stiffness and ultimate strength. Once we know the strain at which the first material breaks, we plug that strain into the second equation above to see the total stress in the composite at this elongation. However, because the same force is being applied over a smaller area, the strength of the composite after the breakage of the first material (in this case, the steel) is given by
$$\sigma_{TS,c}=\sigma_{Al} A_{Al}$$
We can compare this value of tensile strength to the value of tensile strength just before the steel breaks. If the value before steel fracture is greater, then the steel fracture results in the fracture of the entire system. If the value after steel fracture is greater, the system will continue to carry load until it reaches the tensile strength of just the aluminum bars.
Mechanical Properties of Materials, David Roylance, 2008.