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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?

Answer :

5 % of amount in May = $140 
That is, if A is the amount in May, then (5/100)xA = 140
                                                  or A = (100/5)x140 = $2800

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