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 each person have in his account in October?

Question

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 each person have in his account in October?

fallenangelorchid · Answer

is 20% of the original amount equal to 120 superman?

superflytyguy · Answer

20% of 120 is $24

Because if 10% is 12, 20% is double that

120 + 24 = $144

fallenangelorchid · Answer

if you have 2 things that are equal, and you add to them and they are still the same.  then you added an equal amount to each

youngsuperman · Answer

thank

superflytyguy · Answer

yep :)

fallenangelorchid · Answer

if they start with amount, k

1% is equal to k/100

and 20% is just 20 of them

20% = 20k/100,  and we know 20% is equal to 120

120 = 20k/100,  solve for k so yeah superflys right

superflytyguy · Answer

thanks @fallenangelorchid

fallenangelorchid · Answer

Anytime xD