Leroi and sylvia both put 100 in a savings account. Leroi decides he will put in additional 10$ each week. Sylvia decides to put in additional 10% of the amount in the account each week. who has more miney after the first additional deposit? Who has more money after the second additional deposit? Explain.

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22-01-2016
Mathematics

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Leroi and sylvia both put 100 in a savings account. Leroi decides he will put in additional 10$ each week. Sylvia decides to put in additional 10% of the amount in the account each week. who has more miney after the first additional deposit? Who has more money after the second additional deposit? Explain.

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taskmasters taskmasters · Answer 1 · 2016-01-22T05:48:34+01:00

Leroi and sylvia both put 100 in a savings account.
=> Leroi decides he will put in additional 10$ each week.
=> Sylvia decides to put in additional 10% of the amount in the account each week.
Now, who has more money after the first additional deposit?
And who has more money after the second additional deposit?
Answer = the answer is the Sylvia
Because at the beginning they both have 100 dollars in their account
Then Leroi deposited 10$ per week which will become 20$ for 2 weeks and have a total of 120 dollars.
Sylvia also deposited 10% of her money which is also 10$ and on the second week will be 100 + 10% = 121, she’ll also got a total of 121$.