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.
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In May let Liam and Charlie have $ P amount in their savings accounts.
In June Liam deposited $ 140, so total amount in the account = $ P + 140
Charlie deposited 5 % of P, ie., $ P + P * 5 /100
As the total balances are still equal, it means that
5 % of P = $ 140
=> P = $ 140 * 100/5 = $ 2, 800
In May they had $ 2, 800 in their accounts.
In June Liam deposited $ 140, so total amount in the account = $ P + 140
Charlie deposited 5 % of P, ie., $ P + P * 5 /100
As the total balances are still equal, it means that
5 % of P = $ 140
=> P = $ 140 * 100/5 = $ 2, 800
In May they had $ 2, 800 in their accounts.
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Answer:The answer is 2
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