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 compare 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
