Question

From May to June, the amount of money in Jake’s savings account doubled. Jake then withdrew $1,000 to pay a credit card bill. If the ratio of Jake’s balance in May to Jake’s balance in June is 2:3, how much money does Jake have at the beginning of June (after the withdrawal)?

Answer 1

Let May balance = M. After doubling it becomes 2M, then he withdrew $1,000 so June balance = 2M − 1000. Given M : (2M − 1000) = 2 : 3,

M/(2M − 1000) = 2/3 → 3M = 4M − 2000 → M = 2000.

June balance = 2(2000) − 1000 = 3000.

Jake has $3,000 at the beginning of June.