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Mike is now 11 times more than John. Mike is 11 units. John is 1 unit. Their difference is 10 units. 

This 10 units is represented by $5500 difference and narrowed by $260 that John received subsequently. 5500-260=5240

10u is $5240

John now has 1u is $524

Earlier, John has 524-260=$264#

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Thanks for the help and explanation

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Start

J -> u

M -> u + 5500

End

J -> u + 260

M -> 11u + 2860 (11 times of J)

 

Comparing both M (which is the same)

u + 5500 -> 11u + 2860

10u -> 5500 – 2860 = 2640

1u -> 264

 

At first, J has $264

 

 

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