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

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VP
VP
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Joined: 09 Jul 2007
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Location: London
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From May 1 to May 30 in the same year, the balance in a [#permalink] New post 10 Dec 2007, 18:21
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A
B
C
D
E

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0% (00:00) correct 0% (00:00) wrong based on 0 sessions
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
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 [#permalink] New post 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
VP
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Joined: 09 Jul 2007
Posts: 1111
Location: London
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 [#permalink] New post 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
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Joined: 12 Jul 2007
Posts: 867
Followers: 12

Kudos [?]: 199 [0], given: 0

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 [#permalink] New post 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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