Question

Daniel's savings account balance is 20 times the amount of Henrys savings account balance. The total amount of money contained in both savings accounts is $ 462. Henry's' account is small, but the bank where he keeps his account actually pays a higher interest rate,4.4%. How much does Daniel have in his savings account?

Answer 1

Daniel have $440 in his savings account.

Explanation:

Given that Daniel's saving account balance is 20 times the amount of Henry's savings account balance.

So, let Henry's saving account balance = x

Therefore, Daniel's saving account balance = 20 x

Given that total amount of money contained in both account is $ 462

⇒ 20 x + x = 462

21 x =462 ⇒ x = 22

Hence, Daniel's saving account balance = 20 x

= 20 * 22

= $ 440

Answer 2

Answer: Daniel has $22 in his savings account balance.

Explanation:

Let Daniel's savings account balance be x

and Henry's savings account balance be y, then as given Daniel's savings account balnce is 20 times that of Henry's, We get
`x=20y`...........(1)

And also total amount of both savings account is $462 so we get
`x+y=462` ......(2)

Now by substituting values of x from (1) into (2) we get,

`20y + y=462\\21y=462\\y=22`

And
`x=$440`

So, Daniel's savings account balance is $440

and Henry's savings account balance is $22