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# From May 1 to May 30 in the same year, the balance in a

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VP
Joined: 09 Jul 2007
Posts: 1108
Location: London
Followers: 6

Kudos [?]: 74 [0], given: 0

From May 1 to May 30 in the same year, the balance in a [#permalink]  10 Dec 2007, 18:21
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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 percent, then the balance in the account on May 30 would have been $504 (2) During this period of time, the increase in the balance in the checking account was 8 percent. A Director Joined: 12 Jul 2007 Posts: 865 Followers: 12 Kudos [?]: 218 [0], given: 0 [#permalink] 10 Dec 2007, 19:02 Straight C here. 1. Tells us what the balance would have been at a 12% increase, but nothing more 2. Tells us what percent the account increased by, but not where it started Together: a = account balance at beginning of month b = account balance at end of month 1.12a = 504 1.08a = b 1.12a/1.12 = 504/1.12 a = 450 1.08(450) = 486 account balance on May 30 was$486
VP
Joined: 09 Jul 2007
Posts: 1108
Location: London
Followers: 6

Kudos [?]: 74 [0], given: 0

[#permalink]  10 Dec 2007, 19:04
eschn3am wrote:
Straight C here.

1. Tells us what the balance would have been at a 12% increase, but nothing more

2. Tells us what percent the account increased by, but not where it started

Together:

a = account balance at beginning of month
b = account balance at end of month

1.12a = 504
1.08a = b

1.12a/1.12 = 504/1.12
a = 450

1.08(450) = 486

account balance on May 30 was \$486

I have the same answer but the OA is A. which is silly!
Director
Joined: 12 Jul 2007
Posts: 865
Followers: 12

Kudos [?]: 218 [0], given: 0

[#permalink]  10 Dec 2007, 19:07
haha, most certainly a typo of some kind there. answer is 100% C here. there's no other way about it.
[#permalink] 10 Dec 2007, 19:07
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# From May 1 to May 30 in the same year, the balance in a

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