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A certain library assesses fines for overdue books as follow

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A certain library assesses fines for overdue books as follow [#permalink]

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17 Apr 2010, 05:10
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A certain library assesses fines for overdue books as follows. On the first day that a book is overdue, the total fine is $0.10. For each additional day that the book is overdue, the total fine is either increased by$0.30 or doubled, whichever results in the lesser amount. What is the total for a book on the fourth day it is overdue?

A. $0.60 B.$0.70
C. $0.80 D.$0.90
E. $1.00 [Reveal] Spoiler: OA Last edited by Bunuel on 01 Apr 2012, 02:34, edited 1 time in total. Edited the question and added the OA Math Expert Joined: 02 Sep 2009 Posts: 36520 Followers: 7067 Kudos [?]: 92938 [11] , given: 10528 A certain library assesses fines for overdue books as follow [#permalink] Show Tags 17 Apr 2010, 06:19 11 This post received KUDOS Expert's post 16 This post was BOOKMARKED A certain library assesses fines for overdue books as follows. On the first day that a book is overdue, the total fine is$0.10. For each additional day that the book is overdue, the total fine is either increased by $0.30 or doubled, whichever results in the lesser amount. What is the total for a book on the fourth day it is overdue? A.$0.60
B. $0.70 C.$0.80
D. $0.90 E.$1.00

Notice that, fines are already cumulative: "For each additional day that the book is overdue, the total fine is ..."

1st day fine - 0.1
2nd day fine - 0.1*2 = 0.2 (as doubling gives lower value)
3rd day fine - 0.2*2 = 0.4 (as doubling gives lower value)
4th day fine - 0.4 + 0.3 = 0.7 (as doubling gives higher value we add 0.3 this time)

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17 Apr 2010, 06:42
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I am a little bit lost. Don't we have to add:

0.1+0.2+0.4+0.7

Thanks
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17 Apr 2010, 06:53
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sandranjeim wrote:
I am a little bit lost. Don't we have to add:

0.1+0.2+0.4+0.7

Thanks

"For each additional day that the book is overdue, the total fine is ..."

Hope it's clear.
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23 Sep 2010, 14:08
a certain library assess fines for overdue books as follows, on the first day that book is overdue , the total fine is 0.10. for each additional day that is overdue , the total fine is either inc by .30 or doubled, whichever results in lesser amount. What is the total fine for a book on the fourth day it is over due?
.60
.70
.80
.90
1.00.
I am getting .90 answer. my Reasoning is as follows
1(day) .10
2(day) .20 ( 2(.10)= .20 or.30 ,lesser amount .20)
3(day) .30 (2(.20)= .40 or .30, lesser amt= .30)
4(day) .30 (2(.30) =.60 or .30, lesser amount = .30)
total = .90. I dont know what am i missing?
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23 Sep 2010, 14:15
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TomB wrote:
a certain library assess fines for overdue books as follows, on the first day that book is overdue , the total fine is 0.10. for each additional day that is overdue , the total fine is either inc by .30 or doubled, whichever results in lesser amount. What is the total fine for a book on the fourth day it is over due?
.60
.70
.80
.90
1.00.
I am getting .90 answer. my Reasoning is as follows
1(day) .10
2(day) .20 ( 2(.10)= .20 or.30 ,lesser amount .20)
3(day) .30 (2(.20)= .40 or .30, lesser amt= .30)
4(day) .30 (2(.30) =.60 or .30, lesser amount = .30)
total = .90. I dont know what am i missing?

First of all you made an error calculating 4th day:
4th day fine - 0.4+0.3=0.7 (as doubling gives higher value we add 0.3 this time)

Next you should't add up fines as they are already cumulative: "For each additional day that the book is overdue, the total fine is ..."
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Re: PS question: need help [#permalink]

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15 Oct 2010, 00:02
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satishreddy wrote:
A certain library assesses fines for overdue book as follows. On the first day that a book is overdue, the total fine is $0.10, for each additional day that the book is overdue, the total fine is either increased by$0.30 or doubled, whichever results in the lesser amount, what is the total fine for a book on the fourth day it is overdue.

$0.60$0.70
$0.80$0.90
$1.00 OA:B i know, this seems simple, but couldnt crack it,,,,,,,,,,,,,i dont know what my brain is thinking,,,,may be a movie or a budlight,,,,,,, Day 1 : 0.1 Day 2 : Min{0.1x2,0.1+0.3}=0.2 Day 3 : Min{0.2x2,0.2+0.3}=0.4 Day 4 : Min{0.4x2,0.4+0.3}=0.7 And thus B _________________ Senior Manager Status: D-Day is on February 10th. and I am not stressed Affiliations: American Management association, American Association of financial accountants Joined: 12 Apr 2011 Posts: 270 Location: Kuwait Schools: Columbia university Followers: 5 Kudos [?]: 272 [1] , given: 52 A certain library assesses fines for overdue books as follow [#permalink] Show Tags 03 Feb 2012, 07:32 1 This post received KUDOS 4 This post was BOOKMARKED A certain library assesses fines for overdue books as follows. On the first day that a book is overdue, the total fine is$0.10. For each additional day that the book is overdue, the total fine is increased by $0.30 or doubled, whichever results in a lesser amount. What is the total for a book on the fourth day it is overdue? A.$0.60
B. $0.70 C.$0.80
D. $0.90 E.$1.00

i approached it and got 1.00, but i cant understand why .70, which is B
Someone care to show me how to approach this question
thanks
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03 Feb 2012, 07:36
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manalq8 wrote:
A certain library assesses fines for overdue books as follows. On the first day that a book is overdue, the total fine is $0.10. For each additional day that the book is overdue, the total fine is increased by$0.30 or doubled, whichever results in a lesser amount. What is the total for a book on the fourth day it is overdue?

A. $0.60 B.$0.70
C. $0.80 D.$0.90
Day 1 - $.10 Day 2-$.10 *2 or $.10+$.30 (Whichever results in a lesser amount), hence its $.20 Day 3 -$.20*2 or $.20+$.30, $.40 as its lesser Day 4 -$.40*2 or $.40+$.30, $.70 as this is lesser So, Ans B. Kellogg MMM ThreadMaster Joined: 28 Mar 2012 Posts: 314 Location: India GMAT 1: 640 Q50 V26 GMAT 2: 660 Q50 V28 GMAT 3: 730 Q50 V38 Followers: 29 Kudos [?]: 398 [0], given: 23 Re: A certain library assesses fines for overdue books as follow [#permalink] Show Tags 20 Apr 2013, 01:19 Hi, I am little confused, since the question mentions that the total fine be increased by 0.3 or double, won't the question be solved in following way: day 1 - 0.1 day 2 - 2*0.1 = 0.2 day 3 (total due = 0.3, day 1 + day 2) = 0.6 day 4 = 0.9 can anyone please point out the mistake in my understanding of the question? Regards, Verbal Forum Moderator Joined: 10 Oct 2012 Posts: 630 Followers: 80 Kudos [?]: 1116 [0], given: 136 Re: A certain library assesses fines for overdue books as follow [#permalink] Show Tags 20 Apr 2013, 04:08 cyberjadugar wrote: Hi, I am little confused, since the question mentions that the total fine be increased by 0.3 or double, won't the question be solved in following way: day 1 - 0.1 day 2 - 2*0.1 = 0.2 day 3 (total due = 0.3, day 1 + day 2) = 0.6 day 4 = 0.9 can anyone please point out the mistake in my understanding of the question? Regards, Total fine at the end of the 2nd day = 0.2. This means that the total fine, including the past fines, at the end of the second day is 0.2. Notice that 0.1 has already been accounted for.Thus, when you are calculating the total fine at the end of the third day, you refer to 0.2. Thus, total fine at the end of the third day is 0.2*2=0.4. _________________ Math Expert Joined: 02 Sep 2009 Posts: 36520 Followers: 7067 Kudos [?]: 92938 [0], given: 10528 Re: A certain library assesses fines for overdue books as follow [#permalink] Show Tags 20 Apr 2013, 04:10 cyberjadugar wrote: Hi, I am little confused, since the question mentions that the total fine be increased by 0.3 or double, won't the question be solved in following way: day 1 - 0.1 day 2 - 2*0.1 = 0.2 day 3 (total due = 0.3, day 1 + day 2) = 0.6 day 4 = 0.9 can anyone please point out the mistake in my understanding of the question? Regards, Notice that, fines are already cumulative: "For each additional day that the book is overdue, the total fine is ..." _________________ Manager Status: Never ever give up on yourself.Period. Joined: 23 Aug 2012 Posts: 152 Location: India Concentration: Finance, Human Resources GMAT 1: 570 Q47 V21 GMAT 2: 690 Q50 V33 GPA: 3.5 WE: Information Technology (Investment Banking) Followers: 10 Kudos [?]: 301 [0], given: 35 Re: Total fine of book on the 4th day of its overdue ? [#permalink] Show Tags 23 Apr 2013, 02:17 This one's tricky for sure. Easy to fall for D. Here's the solution Day 1 = 0.1$
Day 2 ( Double or increase by 0.3$, chose the minimum one) Option1: Double -> 0.1*2= 0.2$
Option2: Increase by 0.3$-> 0.1+0.3 = 0.4$
Minimum one: 0.2$Day 3 Option1: Double -> 0.2*2=0.4$
Option2: Increase by 0.3$-> 0.2+0.3=0.5$
Minimum one: 0.4$Day 4 Option1: Double -> 0.4*2=0.8$
Option2: Increase by 0.3$-> 0.4+0.3=0.7$
Minimum one: 0.7\$
hence the OA.
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Re: A certain library assesses fines for overdue books as follow [#permalink]

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05 Sep 2013, 10:01
Bunuel,

I am finding it tough solving 700+ questions, getting 70% accuracy, and thats quality in questions. Working on improvement.

But these 600-700 questions looks very school like stuff. Are they really 600 level questions ? or 600 level is quite low?
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05 Sep 2013, 10:21
ygdrasil24 wrote:
Bunuel,

I am finding it tough solving 700+ questions, getting 70% accuracy, and thats quality in questions. Working on improvement.

But these 600-700 questions looks very school like stuff. Are they really 600 level questions ? or 600 level is quite low?

44% of the users answered this question incorrectly, so this question is not that easy. 600+ is about right for it.
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A certain library assesses fines for overdue books as follow [#permalink]

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29 Sep 2014, 00:30
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For the ease of calculation, I removed the decimal point from the question as well as from the OA's

1st day = 10

2nd day = 10*2 = 20 {10+30>10*2}

3rd day = 20*2 = 40 {20+30>20*2}

4th day = 40+30 = 70 {40+30 < 40*2}

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14 Nov 2014, 06:56
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hey bunuel
I followed the wrong strategy earlier.
Do u have more questions like this to practice..
Thanx.
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Re: A certain library assesses fines for overdue books as follow [#permalink]

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14 Nov 2014, 08:06
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Re: A certain library assesses fines for overdue books as follow   [#permalink] 14 Nov 2014, 08:06

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