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# For a certain savings account, the table shows the three

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MBA Section Director
Joined: 19 Mar 2012
Posts: 3325
Location: India
GPA: 3.8
WE: Marketing (Energy and Utilities)
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Re: For a certain savings account, the table shows the three [#permalink]

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29 Mar 2013, 09:44
Expert's post
debayan222 wrote:
[
Hey Guys,
I'm sorry but I'm not getting it..
In bank account, if I deposit $1000.00 on say Jan-01 and if for next 30 days there is no transaction then at the end 30 days my bank account will have$ 30000.00 as per your explanations.Does that make sense guys ?Keeping money idle in the bank and its getting multiplied with no. of days kept in the account...I mean certainly there will be addition of Interest but that will not fetch you 30 times your deposit in 30 days.

Then, why we're considering this theory..Bunuel I would request you help.

Please come up with a deep analysis on this.

Its NOT about cash inflow. ITS BECAUSE THE PROMPT MENTIONS THE AVERAGE OF BALANCES
For example
If I have a balance of $1000 for 3 days in my a/c the average is$(1000X3)/3 = 1000

If I had withdrawn $500 on the second day BY THE LOGIC OF THE PROMPT THE AVERAGE WILL BE$(1000+500+500)/3 = $667 Hope its clear _________________ MBA Section Director Joined: 19 Mar 2012 Posts: 3325 Location: India GPA: 3.8 WE: Marketing (Energy and Utilities) Followers: 1299 Kudos [?]: 9491 [1] , given: 1846 Re: For a certain savings account, the table shows the three [#permalink] ### Show Tags 29 Mar 2013, 09:49 1 This post received KUDOS Expert's post Now that the topics are merged my post does not make sense _________________ Intern Joined: 01 Feb 2013 Posts: 10 Location: United States Concentration: Finance, Technology GPA: 3 WE: Analyst (Computer Software) Followers: 0 Kudos [?]: 13 [0], given: 9 Re: For a certain savings account, the table shows the three [#permalink] ### Show Tags 29 Mar 2013, 16:59 Since there is only three things happening on the account...$1000 to start off with, -$350 ($750 left), -$500 ($250 left) how much do we need to deposit to take the avg back to $1000? 1000+750+250 = 2000, divide this by 3 (2000/3) and we get roughly 666. Then$1000 - $666 =$444, so the account must go up to \$1000 + 444 =1444 (since 666 is roughly) its 1450 that was deposited on that day.
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Re: For a certain savings account, the table shows the three [#permalink]

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08 Apr 2014, 04:42
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Re: For a certain savings account, the table shows the three [#permalink]

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14 Jan 2015, 07:54
I had the same doubt as liarish

Thank You Bunuel The explanation was crisp.
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Re: For a certain savings account, the table shows the three [#permalink]

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18 Feb 2016, 19:42
Hello from the GMAT Club BumpBot!

Thanks to another GMAT Club member, I have just discovered this valuable topic, yet it had no discussion for over a year. I am now bumping it up - doing my job. I think you may find it valuable (esp those replies with Kudos).

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Re: For a certain savings account, the table shows the three   [#permalink] 18 Feb 2016, 19:42

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