“On Monday afternoon Kelly withdrew 5% of the balance of her bank account to loan her friend some money. On Tuesday morning she deposited $100 into her bank account. She now has $25 more than she did on Monday morning. How much was in her bank account Monday morning?”
.95M+100=M+25
solve for M
To find out how much was in Kelly's bank account on Monday morning, let's break down the information provided step by step.
1. Let's assume the amount in Kelly's bank account on Monday morning is 'x'.
2. On Monday afternoon, Kelly withdrew 5% of the balance from her bank account to loan her friend some money. This means she had 95% of 'x' left after the withdrawal, which can be calculated as 0.95x.
3. On Tuesday morning, Kelly deposited $100 into her bank account. So now, her new balance is 0.95x + $100.
4. According to the given information, Kelly now has $25 more than she did on Monday morning. This can be written as (0.95x + $100) - x = $25.
5. Simplifying the equation, we get 0.95x + $100 - x = $25.
Combining like terms, we have -0.05x + $100 = $25.
Moving $100 to the other side, we have -0.05x = $25 - $100.
Simplifying further, we get -0.05x = -$75.
Dividing both sides of the equation by -0.05, we get x = -$75 / -0.05.
6. Performing the division, we find that x = $1500.
So, there was $1500 in Kelly's bank account on Monday morning.