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

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Director
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Joined: 06 Jan 2008
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From May 1 to May 30 in the same year, the balance in a [#permalink] New post 23 Apr 2008, 08:16
00:00
A
B
C
D
E

Difficulty:

(N/A)

Question Stats:

0% (00:00) correct 0% (00:00) wrong based on 1 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.
SVP
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Re: DS - balance [#permalink] New post 23 Apr 2008, 08:19
saravalli wrote:
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.


You need both principal and growth rate.

I like C
SVP
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Re: DS - balance [#permalink] New post 23 Apr 2008, 09:38
Im for C as well.

From stat 1, you can determine the principal amount, but thats it. insuff.

From stat 2, you know the increase rate, but not the principal amount. insuff.
Director
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Joined: 06 Jan 2008
Posts: 560
Followers: 2

Kudos [?]: 97 [0], given: 2

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Re: DS - balance [#permalink] New post 24 Apr 2008, 12:30
Thanks guys.
OA is given as A, but it MUST be wrong.
I agree with you. C
Re: DS - balance   [#permalink] 24 Apr 2008, 12:30
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