IDNLearn.com: Your one-stop platform for getting reliable answers to any question. Join our community to access reliable and comprehensive responses to your questions from experienced professionals.

In
May, Liam and Charlie had the same amount of money in their savings
accounts. In June, Liam deposited $140 into his account. Charlie said he
increased the money in his account by 5%. When they compared their
balances, they found that they were still equal.



How much money did they both have in their accounts in May?


Sagot :

Liam’s saving = x + $140
Charlie’s saving = x + 5%
In order to get the value of x, let’s find the amount which 5% is equals to 140
=> 2800
=> 5% = 0.05
=> 2800 x 0.05
=> 140
=> 2800 (amount that Liam and Charlie have in their account before they added)
Thus, Liam and Charlie both have $2800 on their account .
=> Liams = 2800 + 140 = 2940
=> Charlir = 2800 + 5% (140) = 2940.




Let

x-------> amount of money in their savings accounts in May

we know that

In June, Liam deposited $[tex] 140 [/tex] into his account

so

Balance Liam’s saving in June is equal to

[tex] x+140 [/tex] ------> equation [tex] 1 [/tex]

In June, Charlie increased the money in his account by[tex] 5 [/tex]%

Balance Charlie’s saving in June is equal to

[tex] x+0.05x [/tex] ------> equation [tex] 2 [/tex]

Equate equation [tex] 1 [/tex] and equation [tex] 2 [/tex]

[tex] x+140=x+0.05x\\ x+140=1.05x\\ 1.05x-x=140\\ 0.05x=140\\ x=140/0.05\\ x=2,800 [/tex]$

therefore

the answer is

$[tex] 2,800 [/tex]