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Jia Xin and Tiffany's savings would be increased by 5% if their total savings were increased to $3280. Jia Xin's actual savings were 5% more than Tiffany's. What was the actual amount of Jia Xin's savings?

Question

Jia Xin and Tiffany's savings would be increased by 5% if their total savings were increased to $3280. Jia Xin's actual savings were 5% more than Tiffany's. What was the actual amount of Jia Xin's savings?

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Solution

Let's denote the actual savings of Tiffany as T and the actual savings of Jia Xin as J.

From the problem, we know that:

  1. J = T + 0.05T = 1.05T (since Jia Xin's savings were 5% more than Tiffany's)

  2. The total savings of Jia Xin and Tiffany increased by 5%, so their actual total savings is 95% of 3280.Therefore,J+T=0.953280. Therefore, J + T = 0.95 * 3280 = $3116

Now we can substitute J from the first equation into the second equation:

1.05T + T = 31162.05T=3116 2.05T = 3116 T = 3116/2.05=3116 / 2.05 = 1520 (this is the actual savings of Tiffany)

Substitute T = $1520 into the first equation to find J:

J = 1.05 * 1520=1520 = 1596 (this is the actual savings of Jia Xin)

So, the actual amount of Jia Xin's savings was $1596.

This problem has been solved

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