Xiao Ming has 240 more stamps than Xiao Li. Xiao Ming has four times as many stamps as Xiao Li. How many stamps do they each have

Xiao Ming has 240 more stamps than Xiao Li. Xiao Ming has four times as many stamps as Xiao Li. How many stamps do they each have

Let Xiao Li be x and Xiao Ming be 4x
4x-x=240
x=80
80 for Xiaoli and 320 for Xiaoming