Join us for MBA Spotlight – The Top 20 MBA Fair      Schedule of Events | Register

 It is currently 06 Jun 2020, 06:14

### GMAT Club Daily Prep

#### Thank you for using the timer - this advanced tool can estimate your performance and suggest more practice questions. We have subscribed you to Daily Prep Questions via email.

Customized
for You

we will pick new questions that match your level based on your Timer History

Track

every week, we’ll send you an estimated GMAT score based on your performance

Practice
Pays

we will pick new questions that match your level based on your Timer History

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

Author Message
TAGS:

### Hide Tags

Magoosh GMAT Instructor
Joined: 28 Dec 2011
Posts: 4485
Right now, Al and Eliot have bank accounts, and Al has more money than  [#permalink]

### Show Tags

09 May 2016, 10:20
00:00

Difficulty:

35% (medium)

Question Stats:

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

### HideShow timer Statistics

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

_________________
Mike McGarry
Magoosh Test Prep

Education is not the filling of a pail, but the lighting of a fire. — William Butler Yeats (1865 – 1939)
Intern
Joined: 21 Jan 2016
Posts: 44
Location: India
GMAT 1: 640 Q44 V34
WE: Manufacturing and Production (Manufacturing)
Re: Right now, Al and Eliot have bank accounts, and Al has more money than  [#permalink]

### Show Tags

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
_________________
GREEN ORANGE YELLOW RED
Target Test Prep Representative
Status: Founder & CEO
Affiliations: Target Test Prep
Joined: 14 Oct 2015
Posts: 10684
Location: United States (CA)
Re: Right now, Al and Eliot have bank accounts, and Al has more money than  [#permalink]

### Show Tags

06 May 2020, 04:38
1
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

_________________

# Scott Woodbury-Stewart

Founder and CEO

Scott@TargetTestPrep.com
202 Reviews

5-star rated online GMAT quant
self study course

See why Target Test Prep is the top rated GMAT quant course on GMAT Club. Read Our Reviews

If you find one of my posts helpful, please take a moment to click on the "Kudos" button.

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