Two youths, bearing the pleasant names of Moggs and Snoggs, were employed as junior clerks by a merchant in Mincing Lane. They were both engaged at the same salary — that is, commencing at the rate of £$50$ a year, payable half-yearly. Moggs had a yearly rise of £$10,$ and Snoggs was offered the same, only he asked, for reasons that do not concern our puzzle, that he might take his rise at £$2, 10$s. half-yearly, to which his employer (not, perhaps, unnaturally!) had no objection.
Now we come to the real point of the puzzle. Moggs put regularly into the Post Office Savings Bank a certain proportion of his salary, while Snoggs saved twice as great a proportion of his, and at the end of five years, they had together saved £$268, 15$s. How much had each saved? The question of interest can be ignored.
Solutions: 1
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