In October, Greg and Thomas had the same amount of money in their savings accounts. In November, Greg deposited $120 into his account. Thomas increased the money in his account by 20%. When they compared their balances, they found that they were still equal. How much money did they both have in their accounts in October?

Question

10-10-2014
Mathematics

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In October, Greg and Thomas had the same amount of money in their savings accounts. In November, Greg deposited $120 into his account. Thomas increased the money in his account by 20%. When they compared their balances, they found that they were still equal. How much money did they both have in their accounts in October?

Sagot :

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SlowZasob SlowZasob · Answer 1 · 2014-10-11T17:00:05-04:00

If Greg deposited $120 into his account and Thomas increased his money by 20% and they still got the same amount in November, it means that $120 is 20% of their money in October.

120 = 20% * x (where x is the money in October)
120 = 20/100x
120 = 2/10x
120 = 1/5x / * 5 (both sides)
x = 600

So each of them had $600 in October.

Doublecheck:

Greg's money = 600 + 120 = 720
Thomas' money = 600 + 20% * 600 = 600 + 120 = 720

So it's correct :)

Sagot :

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