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

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

23 Apr 2008, 09:16

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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.

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Re: DS - balance [#permalink]

23 Apr 2008, 09:19

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

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Re: DS - balance [#permalink]

23 Apr 2008, 10:38

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.

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Re: DS - balance [#permalink]

24 Apr 2008, 13:30

Thanks guys.
OA is given as A, but it MUST be wrong.
I agree with you. C

Re: DS - balance [#permalink] 24 Apr 2008, 13:30

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

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

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

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