How much money does Bob have saved?

Question

If Bob had $150 more in his savings account, he would have five times as much saved as he currently has in this account. How much does Bob currently have saved?

Answer 1

Let's represent Bob's current account balance X.

The clue says that if he added $150, making the balance or X+150, that balance will be 5X. This gives us an equation to solve.

 

5X = X + 150

 

4X = 150

 

X = 150/4 = 37.5

 

He currently has $37.50 in his account.