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?

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.

Answered by taskmasters | 2024-06-10

Let
x-------> amount of money in their savings accounts in May
we know that
In June, Liam deposited $ 140 into his account
so
Balance Liam’s saving in June is equal to
x + 140 ------> equation 1
In June, Charlie increased the money in his account by 5 %
Balance Charlie’s saving in June is equal to
x + 0.05 x ------> equation 2
Equate equation 1 and equation 2
x + 140 = x + 0.05 x x + 140 = 1.05 x 1.05 x − x = 140 0.05 x = 140 x = 140/0.05 x = 2 , 800 $
therefore
the answer is
$ 2 , 800

Answered by calculista | 2024-06-11

Liam and Charlie both had $2800 in their savings accounts in May. Liam deposited $140 in June, while Charlie's balance increased by 5%. After these changes, their balances remained equal at $2800.
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Answered by calculista | 2024-09-25