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Larry saves x dollars per month. Will Larry s total savings [#permalink]
05 Oct 2005, 02:11

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Larry saves x dollars per month. Will LarryÂ¡Â¯s total savings one year from now exceed his present savings by at least $500 ? (Assume that there is no interest.)

(1) In 6 months Larry's total savings will be $900.
(2) In 3 months Larry's total savings will exceed his present savings by $150. _________________

2. he's saved 150 during 3 months, i.e 50 a month. so he will be saving 12*50=600 in a year. Sufficient

But then by the same logic, cant we say, he's saved 900 during 6 months, i.e 150 a month. so he will be saving 12*150 in a year?

Rahulraao,

I'm afraid not. Statement 1 tells you how Larry's total savings were after 6 months. We don't know how much he has saved.

Let's say he had 200 in his saving account before starting saving x dolla/month. So, in that case he has saved 400 dollars during 6 months.

Let's say he had 500 before he started saving. That means he saved 100 dollars. The tricky thing might be the word total saving which includes the saving he had before starting saving plus the amount he actually saved.

In statement 2, we know that he saved 150 dollars cause that's the amount which exceeds his original savings.

(1) 6X + Y = 900
though this tells you that he's saved $900, it gives you no clue how much Larry started with. insufficient

(2) 3X = Y + 150
since we want to know whether 12X > 500 + Y, I multiplied both sides of the eq'n by 4 to get 12X = Y + 600. from this I gathered that no matter what Y is, the savings after a year will be at least $600 greater...

Last edited by MsStephanie on 06 Oct 2005, 17:19, edited 1 time in total.

(1) 6X = 900 though this tells you that he's saved $900, it gives you no clue how much Larry started with. insufficient

Ok, I think I am not getting something here.
If 6x = 900 => 12x = 1800.

So Larry will have saved 1800 more than what he has now. We dont care what he started with. We want to know if he will have 500 more.
His savings are $1800 in 12 months, so sufficient. No? _________________

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