It is currently 17 Nov 2017, 19:25

### 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

# Beth's bank charges a service fee on a regular checking

Author Message
TAGS:

### Hide Tags

Director
Joined: 01 Aug 2008
Posts: 727

Kudos [?]: 864 [0], given: 99

Beth's bank charges a service fee on a regular checking [#permalink]

### Show Tags

26 Jan 2010, 14:18
3
This post was
BOOKMARKED
00:00

Difficulty:

15% (low)

Question Stats:

73% (00:35) correct 27% (00:28) wrong based on 163 sessions

### HideShow timer Statistics

Beth's bank charges a service fee on a regular checking account for each month in which the balance on the account falls below \$100 at any time during the month. Did the bank charge a service fee on Beth's regular checking account last month?

(1) During last month, a total of \$1,000 was withdrawn from Beth's regular checking account.

(2) At the beginning of last month, Beth's regular checking account balance was \$500.
[Reveal] Spoiler: OA

Kudos [?]: 864 [0], given: 99

Math Expert
Joined: 02 Sep 2009
Posts: 42248

Kudos [?]: 132520 [0], given: 12324

Re: Beth's bank charges a service fee on a regular checking [#permalink]

### Show Tags

27 Jan 2010, 06:47
ugimba wrote:
Beth's bank charges a service fee on a regular checking account for each month in which the balance on the account falls below \$100 at any time during the month. Did the bank charge a service fee on Beth's regular checking account last month?

(1) During last month, a total of \$1,000 was withdrawn from Beth's regular checking account.

(2) At the beginning of last month, Beth's regular checking account balance was \$500.

I guess answer should be E, as no information is given about the depositing.
_________________

Kudos [?]: 132520 [0], given: 12324

Director
Joined: 01 Aug 2008
Posts: 727

Kudos [?]: 864 [0], given: 99

Re: Beth's bank charges a service fee on a regular checking [#permalink]

### Show Tags

27 Jan 2010, 11:45
Bunuel wrote:

I guess answer should be E, as no information is given about the depositing.

thanks for the response, but can we assume/take deposit into consideration? I was confused wheather to consider deposit or not, so I decided not to and picked different answer, which was wrong. The given asnwer is E though..

can you write more about such kind of problems ..? this is GPrep question though..

Kudos [?]: 864 [0], given: 99

Director
Joined: 28 Jul 2011
Posts: 518

Kudos [?]: 304 [1], given: 16

Location: United States
GPA: 3.86
WE: Accounting (Commercial Banking)
Re: Beth's bank charges a service fee on a regular checking [#permalink]

### Show Tags

02 Jan 2012, 06:33
1
KUDOS
Beth's bank charges a service fee on a regular checking account for each month in which the balance on the account falls below 100\$ at any time during the month, did the bank charge a service fee on Beth's regular checking account last month?

1. During last month, a total of 1000\$ was withdrawn from Beth's regular checking account.

2. At the beginning of last month Beth's regular checking account balance was \$500

I thought because we don't know when exactly the balance was viewed, because there is no date in particular, and the cash might be withdrawn before viewing the balance, during which there will be no service charge or there will be a service charge if the balance was viewed after withdrawing.........

_________________

Kudos [?]: 304 [1], given: 16

Intern
Joined: 25 Dec 2011
Posts: 33

Kudos [?]: 7 [1], given: 0

GMAT 1: 710 Q42 V44
GPA: 3.84
WE: Marketing (Energy and Utilities)
Re: Beth's bank charges a service fee on a regular checking [#permalink]

### Show Tags

02 Jan 2012, 08:12
1
KUDOS
My reasoning, fwiw...

1) During last month, a total of \$1000 was withdrawn from the account. However, neither that nor the stem tells us what Beth started the month with. So #1 is insufficient.

2) At the beginning of the month, the account started with \$500. Well, that's helpful, but that by itself doesn't tell us anything about withdrawals. So #2 is insufficient.

#1 and #2 tell us what she started the month with and how much was withdrawn during the month, but we don't know if there were deposits made during the course of the month. So I'd answer E.

Kudos [?]: 7 [1], given: 0

Intern
Joined: 17 Oct 2011
Posts: 11

Kudos [?]: 5 [0], given: 2

Re: Beth's bank charges a service fee on a regular checking [#permalink]

### Show Tags

03 Jan 2012, 21:33
question stem: anytime the bal falls below 100, it triggers a service fee.
(1) 1000 withdrawn. INSUFF as we do not know the balance as well as if any amount is deposited.
(2) Opening balance 500. INSUFF as we do not know withdrawal.

(Together) opening balance = 500 and withdrawal = 1000 but we still dont know if any deposit was made to counter the withdrawal. INSUFF.

So E
_________________

We will either find a way, or make one.

Please consider giving kudos if you find my post hepful

Kudos [?]: 5 [0], given: 2

Manager
Joined: 29 Jul 2011
Posts: 104

Kudos [?]: 72 [0], given: 6

Location: United States
Re: Beth's bank charges a service fee on a regular checking [#permalink]

### Show Tags

10 Jan 2012, 14:41
1
This post was
BOOKMARKED
1. No info on starting balance, so don't know if \$1000 withdrawal resulted in <\$100 in the account. Insuff.
2. Beginning balance = \$500. No info in withdrawl. insuff.

Together, beginning = \$500, withdrawal = \$1000, but what about deposit? E it is.
_________________

I am the master of my fate. I am the captain of my soul.
Please consider giving +1 Kudos if deserved!

DS - If negative answer only, still sufficient. No need to find exact solution.
PS - Always look at the answers first
CR - Read the question stem first, hunt for conclusion
SC - Meaning first, Grammar second
RC - Mentally connect paragraphs as you proceed. Short = 2min, Long = 3-4 min

Kudos [?]: 72 [0], given: 6

Intern
Joined: 17 Jan 2014
Posts: 8

Kudos [?]: 1 [0], given: 28

Re: Beth's bank charges a service fee on a regular checking [#permalink]

### Show Tags

16 Feb 2014, 21:22
Bunuel wrote:
ugimba wrote:
Beth's bank charges a service fee on a regular checking account for each month in which the balance on the account falls below \$100 at any time during the month. Did the bank charge a service fee on Beth's regular checking account last month?

(1) During last month, a total of \$1,000 was withdrawn from Beth's regular checking account.

(2) At the beginning of last month, Beth's regular checking account balance was \$500.

I guess answer should be E, as no information is given about the depositing.

Hi Bunuel,

The official answer is E. This is my reasoning. Please advise if I am wrong. Thank you.

(1) What we only know is how much money is subtracted from the account, but we don’t know the beginning balance, so it is INSUFFICIENT to know whether Beth need pay for service fee.
(2) What we only know is the beginning balance of the account, but we don’t know the transactions during the month, so it is also INSUFFICIENT.
(3) What we know is the a) beginning balance and b) total withdrawal, but please note that the total withdrawal doesn’t mean that the amount is subtracted at ONE time, and we don’t know how many times and the amount Beth made the deposit, either. So with (1) and (2) it is still INSUFFICIENT.

Kudos [?]: 1 [0], given: 28

Current Student
Joined: 28 Nov 2014
Posts: 914

Kudos [?]: 211 [0], given: 79

Concentration: Strategy
Schools: Fisher '19 (M)
GPA: 3.71
Re: Beth's bank charges a service fee on a regular checking [#permalink]

### Show Tags

14 Dec 2016, 02:39
chetan2u Do we have to assume that there will be a deposit? Or is it like since we cannot assume if there was a deposit or not, we pick choice E to show this un certainity?

Kudos [?]: 211 [0], given: 79

Re: Beth's bank charges a service fee on a regular checking   [#permalink] 14 Dec 2016, 02:39
Display posts from previous: Sort by