The average (arithmetic mean) monthly balance in Company X's : DS Archive
Check GMAT Club App Tracker for the Latest School Decision Releases http://gmatclub.com/AppTrack

 It is currently 07 Dec 2016, 15:12

### GMAT Club Daily Prep

#### Thank you for using the timer - this advanced tool can estimate your performance and suggest more practice questions. We have subscribed you to Daily Prep Questions via email.

Customized
for You

we will pick new questions that match your level based on your Timer History

Track

every week, we’ll send you an estimated GMAT score based on your performance

Practice
Pays

we will pick new questions that match your level based on your Timer History

# Events & Promotions

###### Events & Promotions in June
Open Detailed Calendar

# The average (arithmetic mean) monthly balance in Company X's

Author Message
Director
Joined: 29 Oct 2004
Posts: 863
Followers: 4

Kudos [?]: 195 [0], given: 0

The average (arithmetic mean) monthly balance in Company X's [#permalink]

### Show Tags

11 Jan 2005, 09:46
00:00

Difficulty:

(N/A)

Question Stats:

0% (00:00) correct 0% (00:00) wrong based on 0 sessions

### HideShow timer Statistics

This topic is locked. If you want to discuss this question please re-post it in the respective forum.

The average (arithmetic mean) monthly balance in Company X's petty cash account on any given date is the average of the closing balances posted on the last business day of each of the past 12 months. On March 6, 1990, the average monthly balance was $692.02. What was the average monthly balance as of June 23, 1990? (1) As of June 23, 1990, the total of all the closing balances posted on the last business day of each of the last 12 months was$45.64 less than it had been on March 6, 1990.
(2) The closing balances posted on the last business days of March, April, and May 1990 were $145.90,$3,000.00, and $725.25, respectively. Senior Manager Joined: 30 Dec 2004 Posts: 296 Location: California Followers: 1 Kudos [?]: 2 [0], given: 0 [#permalink] ### Show Tags 11 Jan 2005, 12:13 I say A. Since the amount on March 6th is given = 692.02 A gives the statement the last business day of each of the twelve months were$45.64 less than it had been on March 6. Therefore the average monthly balance on June 23rd would be average of 12 months. The amount between June 1 to 23 does not count because the amount of petty cash is only accounted for at the end of the month.
_________________

"No! Try not. Do. Or do not. There is no try.

Display posts from previous: Sort by