On Jane's credit card account, the average daily balance for : DS Archive
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# On Jane's credit card account, the average daily balance for

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On Jane's credit card account, the average daily balance for [#permalink]

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23 Aug 2007, 17:30
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On Jane's credit card account, the average daily balance for a 30-day billing cycle is the average (arithmetic mean) of the daily balances at the end of each of the 30 days. At the beginning of a certain 30-day billing cycle, Jane's credit card account had a balance of $600. Jane made a payment of$300 on the account during the billing cycle. If no other amounts were added to or subtracted from the account during the billing cycle, what was the average daily balance on Jane's account for the billing cycle?

(1) Jane's payment was credited on the 21st day of the billing cycle.

(2) The average daily balance through the 25th day of the billing cycle was $540. Manager Joined: 03 Sep 2006 Posts: 233 Followers: 1 Kudos [?]: 19 [0], given: 0 ### Show Tags 23 Aug 2007, 18:06 I believe it's D: I. Suff: 1-21 day - balance 600$/day
21 day -300$22-30 day - balance 300$/day
We can find average.

II: Suff:

Equation:
600*25 - 300*(25 - x)
---------------------- = 540
25

x - the day when 300 was paid
23 Aug 2007, 18:06
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