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On Monday, a depositor withdraws funds from his savings account equal

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On Monday, a depositor withdraws funds from his savings account equal  [#permalink]

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New post 19 Feb 2018, 23:15
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Question Stats:

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On Monday, a depositor withdraws funds from his savings account equal to 10% of the amount on deposit, and on Friday he deposits $140. If there were no other transactions, and if the amount in the account following Friday's transaction was 125% of the original amount, how much money was originally in the account?

(A) $125

(B) $175

(C) $400

(D) $500

(E) $540

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Re: On Monday, a depositor withdraws funds from his savings account equal  [#permalink]

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New post 19 Feb 2018, 23:23
1
Let us consider the initial % of amount in account was 100%
Amount withdrawn on Monday - 10%
Remaining Balance = 90 %

Amount deposited on friday = X
Total % on account = 125% of initial amount.

We need to find out the amount deposited on friday was what % of the original amount as first step = 125% - 90% = 35%
X = 35 % of original amount = 140$
If 35% = $140 , 100% = 400. Original amount in the account was $400

Ans: C
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On Monday, a depositor withdraws funds from his savings account equal  [#permalink]

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New post 20 Feb 2018, 16:59
Bunuel wrote:
On Monday, a depositor withdraws funds from his savings account equal to 10% of the amount on deposit, and on Friday he deposits $140. If there were no other transactions, and if the amount in the account following Friday's transaction was 125% of the original amount, how much money was originally in the account?

(A) $125

(B) $175

(C) $400

(D) $500

(E) $540

Let x = original deposit amount

\(.90x + $140 = 1.25x\)

\(.35x = $140\)

\(x=\frac{$140}{.35}=\frac{14,000}{35}=$400\)


Answer C

Translating:
x = amount of original deposit

1) On Monday, a person "withdraws funds from his savings account equal to 10% of the amount on deposit..."

In other words, he leaves 90 percent of the original money he deposited:
.90x stays in the bank on Monday

2) "[O]n Friday he deposits $140" into that account. There are no other transactions. Now, in the account, he has Monday's amount and
+$140

3) . . ."the amount in the account following Friday's transaction was 125% of the original amount. . ."

After that deposit of $140, the total amount in the bank is 125 percent of the original amount:
= 1.25x

Equation:
\(.90x + $140 = 1.25x\)
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Re: On Monday, a depositor withdraws funds from his savings account equal  [#permalink]

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New post 27 Mar 2019, 00:33
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Thanks to another GMAT Club member, I have just discovered this valuable topic, yet it had no discussion for over a year. I am now bumping it up - doing my job. I think you may find it valuable (esp those replies with Kudos).

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Re: On Monday, a depositor withdraws funds from his savings account equal   [#permalink] 27 Mar 2019, 00:33
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