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naveenhv
Joined: 14 Dec 2010
Last visit: 05 Oct 2018
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Location: India
Concentration: Technology, Entrepreneurship
Schools: Kelley '16 (D) Foster '16 (M) Duke '16 (D) Anderson '16 (D) Merage '16 (A) Carlson '16 (WL) Olin '16 (D) Marshall '16 (D)
GMAT 1: 680 Q44 V39
Schools: Kelley '16 (D) Foster '16 (M) Duke '16 (D) Anderson '16 (D) Merage '16 (A) Carlson '16 (WL) Olin '16 (D) Marshall '16 (D)
GMAT 1: 680 Q44 V39
Posts: 92
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225
06 May 2011, 10:17
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E
Be sure to select an answer first to save it in the Error Log before revealing the correct answer (OA)!
Difficulty:
15%
(low)
Question Stats:
75% (00:55) correct
25%
(00:59)
wrong
based on 308
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A certain bank charges a maintenance fee on a standard checking account each month that the balance falls below $1,000 at any time during the month. Did the bank charge a maintenance fee on Sue's standard checking account last month?
(1) At the beginning of last month, Sue's account balance was $1,500.
(2) During last month, a total of $2,000 was withdrawn from Sue's checking account.
(1) At the beginning of last month, Sue's account balance was $1,500.
(2) During last month, a total of $2,000 was withdrawn from Sue's checking account.
06 May 2011, 11:31
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a doesn't talk about the final balance. not sufficient.
b dosen't talk about the final balance. not sufficient.
a+b doesn't talk about how much the deposit was made. suppose deposit was 5000 previous balance was 1500 then final balance after 2000 withdrawal = 6500 - 2000
also suppose deposit was 1000 initial balance = 1500 total = 2500, withdrawal = 2000
final balance = 500 hence the fee is charged.
E
b dosen't talk about the final balance. not sufficient.
a+b doesn't talk about how much the deposit was made. suppose deposit was 5000 previous balance was 1500 then final balance after 2000 withdrawal = 6500 - 2000
also suppose deposit was 1000 initial balance = 1500 total = 2500, withdrawal = 2000
final balance = 500 hence the fee is charged.
E
06 May 2011, 15:28
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1. Not sufficient
as we dont know anything about the rest of the month activities.
2. Not sufficient
we dont know anything about the months balances.
together
we know month's starting balance was 1500 and a total of 2000 was withdrawn. but we still dont whether anymore deposits where made into the account before the 2000 withdrawl. Hence not sufficient.
Answer is E.
as we dont know anything about the rest of the month activities.
2. Not sufficient
we dont know anything about the months balances.
together
we know month's starting balance was 1500 and a total of 2000 was withdrawn. but we still dont whether anymore deposits where made into the account before the 2000 withdrawl. Hence not sufficient.
Answer is E.
