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

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Beth's bank charges a service fee on a regular checking [#permalink] New post 26 Jan 2010, 13:18
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57% (01:44) correct 43% (00:43) wrong based on 13 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(1) During last month, a total of $1,000 was withdrawn from Beth's regular checking account.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.
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Re: bank service fee [#permalink] New post 27 Jan 2010, 05:47
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ugimba 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(1) During last month, a total of $1,000 was withdrawn from Beth's regular checking account.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.


I guess answer should be E, as no information is given about the depositing.
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Re: bank service fee [#permalink] New post 27 Jan 2010, 10:45
Bunuel wrote:

I guess answer should be E, as no information is given about the depositing.


thanks for the response, but can we assume/take deposit into consideration? I was confused wheather to consider deposit or not, so I decided not to and picked different answer, which was wrong. The given asnwer is E though..

can you write more about such kind of problems ..? this is GPrep question though..
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Number properties [#permalink] New post 02 Jan 2012, 05:33
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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 During last month, a total of 1000$ was withdrawn from Beth's regular checking account.

2. At the beginning of last month Beth's regular checking account balance was $500

I thought because we don't know when exactly the balance was viewed, because there is no date in particular, and the cash might be withdrawn before viewing the balance, during which there will be no service charge or there will be a service charge if the balance was viewed after withdrawing.........

Is this because of above reason the answer is E???Please help
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Re: Number properties [#permalink] New post 02 Jan 2012, 07:12
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My reasoning, fwiw...

1) During last month, a total of $1000 was withdrawn from the account. However, neither that nor the stem tells us what Beth started the month with. So #1 is insufficient.

2) At the beginning of the month, the account started with $500. Well, that's helpful, but that by itself doesn't tell us anything about withdrawals. So #2 is insufficient.

#1 and #2 tell us what she started the month with and how much was withdrawn during the month, but we don't know if there were deposits made during the course of the month. So I'd answer E.
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Re: Number properties [#permalink] New post 03 Jan 2012, 20:33
question stem: anytime the bal falls below 100, it triggers a service fee.
(1) 1000 withdrawn. INSUFF as we do not know the balance as well as if any amount is deposited.
(2) Opening balance 500. INSUFF as we do not know withdrawal.

(Together) opening balance = 500 and withdrawal = 1000 but we still dont know if any deposit was made to counter the withdrawal. INSUFF.

So E
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Re: Number properties [#permalink] New post 10 Jan 2012, 13:41
1. No info on starting balance, so don't know if $1000 withdrawal resulted in <$100 in the account. Insuff.
2. Beginning balance = $500. No info in withdrawl. insuff.

Together, beginning = $500, withdrawal = $1000, but what about deposit? E it is.
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Re: bank service fee [#permalink] New post 16 Feb 2014, 20:22
Bunuel wrote:
ugimba 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.


I guess answer should be E, as no information is given about the depositing.


Hi Bunuel,

The official answer is E. This is my reasoning. Please advise if I am wrong. Thank you.

(1) What we only know is how much money is subtracted from the account, but we don’t know the beginning balance, so it is INSUFFICIENT to know whether Beth need pay for service fee.
(2) What we only know is the beginning balance of the account, but we don’t know the transactions during the month, so it is also INSUFFICIENT.
(3) What we know is the a) beginning balance and b) total withdrawal, but please note that the total withdrawal doesn’t mean that the amount is subtracted at ONE time, and we don’t know how many times and the amount Beth made the deposit, either. So with (1) and (2) it is still INSUFFICIENT.
Re: bank service fee   [#permalink] 16 Feb 2014, 20:22
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