Question

Zack has two savings accounts with the total of $9,000. He withdew 10 percent from one and 60 percent from the other to buy his girlfriend an engagement ring. If the ring cost$2,175, find the remaining balance in each account.

Answer 1

The remaining balances in the first and second account are $5805 and $1020 respectively.

Explanation

Suppose, the initial balance in the first account was  $x$ dollar.

As the total amount in two accounts was $9000, so the initial balance in the second account was  $(9000-x) dollar$

He withdrew 10% from the first and 60% from the second account to buy the ring which cost $2175. So, the equation will be......

$0.10x+0.60(9000-x)=2175\\ \\ 0.10x+5400-0.60x=2175\\ \\ -0.50x= 2175-5400= -3225\\ \\ x=\frac{-3225}{-0.50}= 6450$

So, the initial balance in the first account was $6450 and in the second account was ($9000 - $6450)= $2550

Thus, the remaining balance in the first account = 90% of $6450 = $(0.90*6450)= \ 5805$

and the remaining balance in the second account = 40% of $2550 = $(0.40*2550)=\ 1020$