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?

tahyla · Answer

umm if 120 is 20% then multiply 120 by 5

tahyla · Answer

that will be 600

Vocaloid · Answer

In October, they had the same balance. Therefor, we can assign x to be the balance in October.

Greg deposited 120 into his account, so his new balance can be represented as x + 120.

Thomas increased his balance by 20% so his new balance can be represented as x + 20% of x or x + 0.20x.

The new balances are still equal so you can set x + 120 = x + 0.20x and solve for x to get the balance in October.