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DS with hypothetical statement 1 [#permalink]
 15 Jun 2009, 13:03
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What would be the answer for the below question? (Came across this question elsewhere)
From May 1 to May 30 in the same year, the balance in a checking account increased. What was the balance in the checking account on May 30?
1) If, during this period of time, the increase in the balance in the checking account had been 12%, then the balance in the account on May 30 would have been $504
2) During this period of time, the balance in the checking account was 8%
With regards,
mbaplus+
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Re: DS with hypothetical statement 1 [#permalink]
15 Jun 2009, 16:14
mbaplus wrote: What would be the answer for the below question? (Came across this question elsewhere)
From May 1 to May 30 in the same year, the balance in a checking account increased. What was the balance in the checking account on May 30?
1) If, during this period of time, the increase in the balance in the checking account had been 12%, then the balance in the account on May 30 would have been $504
2) During this period of time, the balance in the checking account was 8%
With regards,
mbaplus+ I think neither of the statements are sufficient to calculate the balance in Checking acct on May 30.
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Re: DS with hypothetical statement 1 [#permalink]
15 Jun 2009, 17:13
I don't understand the question correctly. Can you pls. tell the source.
The second stmt. looks wage.
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Re: DS with hypothetical statement 1 [#permalink]
15 Jun 2009, 21:58
Something seems to be wrong with this question. Please recheck. We need to find the balance in the checking a/c on May 30. 1) If, during this period of time, the increase in the balance in the checking account had been 12%, then the balance in the account on May 30 would have been $504. It gives a possibility. 2) During this period of time, the balance in the checking account was 8%. Does not help at all. Non of the statements give a definite answer
_________________
"Always....Read between the lines"
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Re: DS with hypothetical statement 1 [#permalink]
16 Jun 2009, 01:11
Official answer to the above question is A and there is a good amount of argument that the answer could be C too. Personally, I am going for A too.
It is A because:
x + 12% of X = 504
And since the first statement is sufficient then the other possible answer could be only D.
There is also an argument from my group that the answer is C. I am taking one of the best arguments and pasting it here.
There is no doubt in miy mind that the answer is C, lets take a real life example:
Man: My bank account increased so much this month!
Woman: How much was the ending balance?
Man: Lets put it this way if it increased by 12% the ending balance would have been $504!
Woman: Ok, that gives me your beginning balanace, but how much did it ACTUALLY increase?
Man: 8%
Woman: Ah, now I can figure it out.
C
People are mistaking finding ANY ending balance with finding THE ending balance.
For instance if statement (2) was:
If, during this period of time, the increase in the balance in the checking account had been 14%, then the balance in the account on May 30 would have been $513.
The answer could not be D, there could not have been two ending balanaces, therefore, the answer would be E because we DO NOT know the ACTUAL increase.
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Re: DS with hypothetical statement 1 [#permalink]
16 Jun 2009, 01:20
My thought, which can be validated by others here is that, when one faces a hypothetical (if, let us assume sort of questions in DS statement 1, then the choice will almost always be either B, C or E.
(You get more returns when you learn to handle such type of questions rather than that specific question.)
And coming to the question again, i am sort of convinced that the answer is C and this is after the argument from my group which i have pasted above.
Your take guys?
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Re: DS with hypothetical statement 1 [#permalink]
16 Jun 2009, 18:03
In order to know the ending balance, do you not need to know whether there were any withdrawals made during the month in question ?
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Re: DS with hypothetical statement 1 [#permalink]
16 Jun 2009, 23:56
mbaplus wrote: Official answer to the above question is A and there is a good amount of argument that the answer could be C too. Personally, I am going for A too.
It is A because:
x + 12% of X = 504
And since the first statement is sufficient then the other possible answer could be only D.
There is also an argument from my group that the answer is C. I am taking one of the best arguments and pasting it here.
There is no doubt in miy mind that the answer is C, lets take a real life example:
Man: My bank account increased so much this month!
Woman: How much was the ending balance?
Man: Lets put it this way if it increased by 12% the ending balance would have been $504!
Woman: Ok, that gives me your beginning balanace, but how much did it ACTUALLY increase?
Man: 8%
Woman: Ah, now I can figure it out.
C
People are mistaking finding ANY ending balance with finding THE ending balance.
For instance if statement (2) was:
If, during this period of time, the increase in the balance in the checking account had been 14%, then the balance in the account on May 30 would have been $513.
The answer could not be D, there could not have been two ending balanaces, therefore, the answer would be E because we DO NOT know the ACTUAL increase. Question: How can the ending balance be found from x + 12% of X = 504 ? My take is C too.
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Re: DS with hypothetical statement 1 [#permalink]
18 Jun 2009, 09:05
mbaplus wrote: What would be the answer for the below question? (Came across this question elsewhere)
From May 1 to May 30 in the same year, the balance in a checking account increased. What was the balance in the checking account on May 30?
1) If, during this period of time, the increase in the balance in the checking account had been 12%, then the balance in the account on May 30 would have been $504
2) During this period of time, the balance in the checking account was 8%
With regards,
mbaplus+ Where is this else where? The language of the Q is weird. During this period of time.. Does it mean on May 30th? With A we can get initial amount in the account. If assumed that during this time applies to every single day, then C is an answer because on May 30th the amount is 8% of the starting balance. If GMAT were to use such words,it would use them so that we fall in the trap. During the period is not equal to May 30th. During the period could be May 15th o May 30th. Think verbally
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Re: DS with hypothetical statement 1
[#permalink]
18 Jun 2009, 09:05
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