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Difficulty:
15%
(low)
Question Stats:
78% (01:12) correct
22%
(01:14)
wrong
based on 4161
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From May 1 to May 30 in the same year, the balance in a checking account increased. What was the balance in the checking account on May 30?
(1) If, during this period of time, the increase in the balance in the checking account had been 12 percent, then the balance in the account on May 30 would have been $504
(2) During this period of time, the increase in the balance in the checking account was 8 percent.
(1) If, during this period of time, the increase in the balance in the checking account had been 12 percent, then the balance in the account on May 30 would have been $504
(2) During this period of time, the increase in the balance in the checking account was 8 percent.
01 Aug 2013, 10:46
Kudos
Bookmarks
FTGNGU
Bunuel
dkverma
From May 1 to May 30 in the same year, the balance in a checking account increased. What was the balance in the checking account on May 30?
(1) If, during this period of time, the increase in the balance in the checking account had been 12 percent, then the balance in the account on May 30 would have been $504
(2) During this period of time, the increase in the balance in the checking account was 8 percent.
(1) If, during this period of time, the increase in the balance in the checking account had been 12 percent, then the balance in the account on May 30 would have been $504
(2) During this period of time, the increase in the balance in the checking account was 8 percent.
Let the balance on May 1 be \(x\), on May 30 \(y\) and increase \(p\) percent.
So \(x*(1+\frac{p}{100})=y\). Question: \(y=?\)
(1) \(x*(1+\frac{12}{100})=504\) --> we can find \(x\), but still not sufficient to get \(y\).
(2) \(p=8\). Clearly insufficient.
(1)+(2) We know both \(x\) and \(p\) so we can calculate \(y\). Sufficient.
Answer: C.
Hi,
Could you please help me here, Already answer is available in option A so why we have to rule out?
The question states : "If, during this period of time ....... would have been $504"
Note that this statement doesn't give us the actual balance amount. It just gives a condition based on the initial value.
For eg, I get a raise in salary, and you want to know my final salary.I tell you that if I had a 20% increase on my salary, it would amount to 120. Thus, you can easily guess that my initial salary = 100. But, do you know the final raise that I got? No.
Now, along with the above information, If also tell you that I DID get a 10% hike, you would be able to guess that my final salary = 110.
Similar analogy for the above problem.
Hope this helped.
04 Nov 2010, 19:19
Kudos
Bookmarks
dkverma
From May 1 to May 30 in the same year, the balance in a checking account increased. What was the balance in the checking account on May 30?
(1) If, during this period of time, the increase in the balance in the checking account had been 12 percent, then the balance in the account on May 30 would have been $504
(2) During this period of time, the increase in the balance in the checking account was 8 percent.
(1) If, during this period of time, the increase in the balance in the checking account had been 12 percent, then the balance in the account on May 30 would have been $504
(2) During this period of time, the increase in the balance in the checking account was 8 percent.
Let the balance on May 1 be \(x\), on May 30 \(y\) and increase \(p\) percent.
So \(x*(1+\frac{p}{100})=y\). Question: \(y=?\)
(1) \(x*(1+\frac{12}{100})=504\) --> we can find \(x\), but still not sufficient to get \(y\).
(2) \(p=8\). Clearly insufficient.
(1)+(2) We know both \(x\) and \(p\) so we can calculate \(y\). Sufficient.
Answer: C.
