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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?

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Kalahira
Answer: $2800 Explanation: Let Initial amount be X then x+140 = x+ 0.05x since this 5% change in x is 140 solving for x we get x= 140 * 100/5 = 140 * 20 = 2800 Check: Case 1: 2800 + 140 = 2940 case 2: 2800 + 5/100 *(2800) = 2800 +140 = 2800

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