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

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New post 09 May 2016, 10:20
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Question Stats:

80% (02:41) correct 20% (02:59) wrong based on 30 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

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

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New post 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]

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New post 06 May 2020, 04:38
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mikemcgarry wrote:
[color=#0000ff]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



We can create the equations:

A - E = 1/12(A + E)

12A - 12E = A + E

11A = 13E

and

1.1A = 1.2E + 22

11A = 12E + 220

Subtracting the second equation from the first,we have:

0 = E - 220

220 = E

Answer: D
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Re: Right now, Al and Eliot have bank accounts, and Al has more money than   [#permalink] 06 May 2020, 04:38

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

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