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Lydia inherited a sum of money. She split it into five equal chunks. She put 3 parts of the $ in a bank account which added 10% to the value. She put the rest of her it plus $500 in the stock market but lost 20% on that money. If the 2 accounts end up with the same amount of $ in them, how much did she inherit?

Guest May 31, 2015

Best Answer 

 #1
avatar+93025 
+10

Call "N" the anount that she inherited

 

Then....in the first situation, she ended up with an amount equal to....

 

(3/5)N (1.1)

 

In the second situation......she ended up with an amount equal to....

 

[(2/5)N + 500] (.80)    ..... and since these are equal, we have.....

 

(3/5)N(1.1) = [(2/5)N + 500] (.80)  simplify

 

.66N = .32N + 400     subtract .32N from both sides

 

.34N = 400   divide both sides by .34

 

She inherited about $ 1176.47   ......each account contains $776.47

 

 

CPhill  May 31, 2015
 #1
avatar+93025 
+10
Best Answer

Call "N" the anount that she inherited

 

Then....in the first situation, she ended up with an amount equal to....

 

(3/5)N (1.1)

 

In the second situation......she ended up with an amount equal to....

 

[(2/5)N + 500] (.80)    ..... and since these are equal, we have.....

 

(3/5)N(1.1) = [(2/5)N + 500] (.80)  simplify

 

.66N = .32N + 400     subtract .32N from both sides

 

.34N = 400   divide both sides by .34

 

She inherited about $ 1176.47   ......each account contains $776.47

 

 

CPhill  May 31, 2015

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