Find all School-related info fast with the new School-Specific MBA Forum

It is currently 26 Nov 2014, 02:14

Close

GMAT Club Daily Prep

Thank you for using the timer - this advanced tool can estimate your performance and suggest more practice questions. We have subscribed you to Daily Prep Questions via email.

Customized
for You

we will pick new questions that match your level based on your Timer History

Track
Your Progress

every week, we’ll send you an estimated GMAT score based on your performance

Practice
Pays

we will pick new questions that match your level based on your Timer History

Not interested in getting valuable practice questions and articles delivered to your email? No problem, unsubscribe here.

Events & Promotions

Events & Promotions in June
Open Detailed Calendar

Beth's bank charges a service fee on a regular checking

  Question banks Downloads My Bookmarks Reviews Important topics  
Author Message
TAGS:
Intern
Intern
User avatar
Joined: 20 Feb 2012
Posts: 41
Followers: 1

Kudos [?]: 84 [0], given: 6

Beth's bank charges a service fee on a regular checking [#permalink] New post 23 Feb 2012, 07:13
00:00
A
B
C
D
E

Difficulty:

  15% (low)

Question Stats:

72% (01:30) correct 28% (00:27) wrong based on 73 sessions
Beth's bank charges a service fee on a regular checking account for each month in which the balance on the account falls below $100 at any time during the month. Did the bank charge a service fee on Beth's regular checking account last month?

(1) During last month, a total of $1,000 was withdrawn from Beth's regular checking account.
(2) At the beginning of last month, Beth's regular checking account balance was $500.
[Reveal] Spoiler: OA
Expert Post
4 KUDOS received
Math Expert
User avatar
Joined: 02 Sep 2009
Posts: 24081
Followers: 3737

Kudos [?]: 31291 [4] , given: 3310

Re: DATA8 [#permalink] New post 23 Feb 2012, 07:47
4
This post received
KUDOS
Expert's post
BANON wrote:
Beth's bank charges a service fee on a regular checking account for each month in which the balance on the account falls below $100 at any time during the month. Did the bank charge a service fee on Beth's regular checking account last month?

(1) During last month, a total of $1,000 was withdrawn from Beth's regular checking account.
(2) At the beginning of last month, Beth's regular checking account balance was $500.


Perfect example how the GMAT tries to trick us. Remember do not assume anything that is not explicitly stated: do we know whether Beth deposited during last month? No! Since no information is given about the depositing then the answer is straight E.
_________________

NEW TO MATH FORUM? PLEASE READ THIS: ALL YOU NEED FOR QUANT!!!

PLEASE READ AND FOLLOW: 11 Rules for Posting!!!

RESOURCES: [GMAT MATH BOOK]; 1. Triangles; 2. Polygons; 3. Coordinate Geometry; 4. Factorials; 5. Circles; 6. Number Theory; 7. Remainders; 8. Overlapping Sets; 9. PDF of Math Book; 10. Remainders; 11. GMAT Prep Software Analysis NEW!!!; 12. SEVEN SAMURAI OF 2012 (BEST DISCUSSIONS) NEW!!!; 12. Tricky questions from previous years. NEW!!!;

COLLECTION OF QUESTIONS:
PS: 1. Tough and Tricky questions; 2. Hard questions; 3. Hard questions part 2; 4. Standard deviation; 5. Tough Problem Solving Questions With Solutions; 6. Probability and Combinations Questions With Solutions; 7 Tough and tricky exponents and roots questions; 8 12 Easy Pieces (or not?); 9 Bakers' Dozen; 10 Algebra set. ,11 Mixed Questions, 12 Fresh Meat

DS: 1. DS tough questions; 2. DS tough questions part 2; 3. DS tough questions part 3; 4. DS Standard deviation; 5. Inequalities; 6. 700+ GMAT Data Sufficiency Questions With Explanations; 7 Tough and tricky exponents and roots questions; 8 The Discreet Charm of the DS ; 9 Devil's Dozen!!!; 10 Number Properties set., 11 New DS set.


What are GMAT Club Tests?
25 extra-hard Quant Tests

Take a Survey about GMAT Prep - Win Prizes!

Expert Post
Math Expert
User avatar
Joined: 02 Sep 2009
Posts: 24081
Followers: 3737

Kudos [?]: 31291 [0], given: 3310

Re: Beth's bank charges a service fee on a regular checking [#permalink] New post 02 Sep 2013, 13:03
Expert's post
Manager
Manager
avatar
Joined: 23 Jan 2012
Posts: 76
Followers: 0

Kudos [?]: 3 [0], given: 38

Re: Beth's bank charges a service fee on a regular checking [#permalink] New post 26 Oct 2014, 08:16
This is a nice question, but I am surprised that it is a 600-700 range question. First when I saw this question I thought it must be from the 700+ bucket...Awesome Explanation Bunuel...I solved it the same way using critical reasoning technique. Statement 1 does not tell us anything about the account balance after the money was withdrawn. Statement 2 only gives the information about the account balance at the start of the month. But the question stem says that the bank charges service fees if the account balance falls below $100 "at any time" . We don't really know what happened to the account throughout the month - were there any deposits or any additional withdrawals. Hence Statement 1 & 2 combined does not fetch us any useful information. Answer is a def 'E'.
Re: Beth's bank charges a service fee on a regular checking   [#permalink] 26 Oct 2014, 08:16
    Similar topics Author Replies Last post
Similar
Topics:
4 Experts publish their posts in the topic The fee a certain plumber charges for service is based on Gnpth 4 26 Nov 2013, 07:08
2 Congestion pricing, the practice of charging a fee for aditi1903 4 08 Oct 2012, 07:15
1 Experts publish their posts in the topic The fee a certain plumber charges for service is based on a bhavinshah5685 8 31 Jul 2012, 20:15
2 Experts publish their posts in the topic Beth's bank charges a service fee on a regular checking ugimba 7 26 Jan 2010, 13:18
Congestion pricing, the practice of charging a fee for pinal2 4 16 Dec 2007, 22:31
Display posts from previous: Sort by

Beth's bank charges a service fee on a regular checking

  Question banks Downloads My Bookmarks Reviews Important topics  


GMAT Club MBA Forum Home| About| Privacy Policy| Terms and Conditions| GMAT Club Rules| Contact| Sitemap

Powered by phpBB © phpBB Group and phpBB SEO

Kindly note that the GMAT® test is a registered trademark of the Graduate Management Admission Council®, and this site has neither been reviewed nor endorsed by GMAC®.