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On Monday, Karen had S dollars in her savings account

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On Monday, Karen had S dollars in her savings account [#permalink] New post 20 May 2018, 07:18
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55% (03:43) correct 44% (03:52) wrong based on 9 sessions
On Monday, Karen had S dollars in her savings account and C dollars in her checking account. On Tuesday, Karen transferred half of the money in her savings account to her checking account. On Wednesday, Karen transferred 20% of the money in her checking account to her savings account, at which point she had the same amount of money in each bank account. If Karen made no other banking transactions during that time, which of the following describes the relationship between S and C?

A) S = C + 40
B) C = S/3
C) 2S = 3C
D) 3S = C
E) 3C = 10S
[Reveal] Spoiler: OA

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Re: On Monday, Karen had S dollars in her savings account [#permalink] New post 20 May 2018, 22:13
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Form a equation for the time when money in checking a/c equals to the money in savings a/c. This happens on wednesday.
To get to the eqn make a table that will demostrate money at the end of each day beginning on Monday.

0.5s + 0.2(c+0.5s) = 0.8(c +0.5s)
or, 0.5s + 0.2c + 0.1s = 0.8c + 0.4s
or, 0.6s - 0.4s = 0.8c - 0.2c
or, 0.2s = 0.6c
or, 2s = 6c
or, s = 3c
or, s/3 =c

option B

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This is my response to the question and may be incorrect. Feel free to rectify any mistakes

GRE Instructor
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Re: On Monday, Karen had S dollars in her savings account [#permalink] New post 21 May 2018, 05:51
Expert's post
GreenlightTestPrep wrote:
On Monday, Karen had S dollars in her savings account and C dollars in her checking account. On Tuesday, Karen transferred half of the money in her savings account to her checking account. On Wednesday, Karen transferred 20% of the money in her checking account to her savings account, at which point she had the same amount of money in each bank account. If Karen made no other banking transactions during that time, which of the following describes the relationship between S and C?

A) S = C + 40
B) C = S/3
C) 2S = 3C
D) 3S = C
E) 3C = 10S


Monday
S dollars in savings account
C dollars in checking account

Tuesday: Karen transferred half of the money in her savings account to her checking account
Amount in savings account = 0.5S
Amount in checking account = C + 0.5S

Wednesday: Karen transferred 20% of the money in her checking account to her savings account...
20% of the money in her checking account = (0.2)C + 0.5S
So, the new amount in savings account = 0.5S + (0.2)(C + 0.5S)

NOTE:If Karen REMOVES 20% of the money in her checking account, then 80% of her money REMAINS
So, the new amount in checking account = (0.8)(C + 0.5S)


...at which point she had the same amount of money in each bank account
So, we can write: 0.5S + (0.2)(C + 0.5S) = (0.8)(C + 0.5S)
Expand both sides to get: 0.5S + 0.2C + 0.1S = 0.8C + 0.4S
Simplify left side to get: 0.6S + 0.2C = 0.8C + 0.4S
Subtract 0.2C from both sides: 0.6S = 0.6C + 0.4S
Subtract 0.4S from both sides: 0.2S = 0.6C
To make things clearer/easier, let's multiply both sides by 10 to get: 2S = 6C
Divide both sides by 2 to get: S = 3C
Check answer choices....not there.

Take S = 3C and divide both sides by 3 to get: S/3 = C
Check answer choices.....

Answer: B
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Re: On Monday, Karen had S dollars in her savings account   [#permalink] 21 May 2018, 05:51
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On Monday, Karen had S dollars in her savings account

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