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.

Answer Link

calculista calculista · Answer 2 · 2018-08-01T11:57:26-04:00

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]