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# Right now, Al and Eliot have bank accounts, and Al has more money than

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Magoosh GMAT Instructor
Joined: 28 Dec 2011
Posts: 4478
Right now, Al and Eliot have bank accounts, and Al has more money than  [#permalink]

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09 May 2016, 10:20
00:00

Difficulty:

35% (medium)

Question Stats:

82% (02:45) correct 18% (01:42) wrong based on 31 sessions

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Right now, Al and Eliot have bank accounts, and Al has more money than Eliot. The difference between their two accounts is 1/12 of the sum of their two accounts. If Al’s account were to increase by 10% and Eliot’s account were to increase by 20%, then Al would have exactly \$22 more than Eliot in his account. How much money does Eliot have in his account right now?

(A) \$110
(B) \$120
(C) \$180
(D) \$220
(E) \$260

Word problems can be tricky, and one tricky issue is assigning variables. For a discussion of some guidelines, as well as the OE for this particular question, see:
Intro to GMAT Word Problems, Part 2: Assigning Variables

Mike

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Mike McGarry
Magoosh Test Prep

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Joined: 21 Jan 2016
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Re: Right now, Al and Eliot have bank accounts, and Al has more money than  [#permalink]

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09 May 2016, 10:38
mikemcgarry wrote:
Right now, Al and Eliot have bank accounts, and Al has more money than Eliot. The difference between their two accounts is 1/12 of the sum of their two accounts. If Al’s account were to increase by 10% and Eliot’s account were to increase by 20%, then Al would have exactly \$22 more than Eliot in his account. How much money does Eliot have in his account right now?

(A) \$110
(B) \$120
(C) \$180
(D) \$220
(E) \$260

Word problems can be tricky, and one tricky issue is assigning variables. For a discussion of some guidelines, as well as the OE for this particular question, see:
Intro to GMAT Word Problems, Part 2: Assigning Variables

Mike

Lets assume Al have amount A in his bank account and Eliot's bank account got E amount. We can form an equation from the first condition.
A-E = 1/12*(A+E) ==> 11A = 13E ------------ (1)

Second condition gives two different amounts, Al's amount = 1.1A and Eliot's amount = 1.2E
1.1A = 22 + 1.2E ==> 11A =220 +12E -------(2)

Substituting (1) in (2):
13E = 220+12E ==> E = 220
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Re: Right now, Al and Eliot have bank accounts, and Al has more money than   [#permalink] 09 May 2016, 10:38
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