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From May 1 to May 30 in the same year, the balance in a checking accou

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Manager
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From May 1 to May 30 in the same year, the balance in a checking accou [#permalink]

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05 Jun 2008, 12:45
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71% (01:47) correct 29% (00:43) wrong based on 142 sessions

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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. OPEN DISCUSSION OF THIS QUESTION IS HERE: from-may-1-to-may-30-in-the-same-year-the-balance-in-a-104269.html [Reveal] Spoiler: OA Last edited by Bunuel on 20 Jul 2015, 02:58, edited 1 time in total. Renamed the topic, edited the question and added the OA. CEO Joined: 29 Mar 2007 Posts: 2562 Followers: 21 Kudos [?]: 453 [0], given: 0 Re: From May 1 to May 30 in the same year, the balance in a checking accou [#permalink] Show Tags 05 Jun 2008, 13:07 puma wrote: 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%, then tha balance in the account on May 30 would haven been$504.

2) During this period of time, the increase in the balance in the checking account was 8%

1.12x=504 --> we know the original amount, but by how much did it increase to?

2: insuff.

Together (1.08)*(504/1.12)

Suff.

C
Manager
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Re: From May 1 to May 30 in the same year, the balance in a checking accou [#permalink]

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05 Jun 2008, 13:58
I go for C...

Same reasoning as above.
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Re: From May 1 to May 30 in the same year, the balance in a checking accou [#permalink]

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05 Jun 2008, 15:14
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C for me as well

from stat 1, you can find the original amount, but have no idea what the amount at the end of the month is

from stat 2, you know what the increase it, but not the original amount.

together, you have all you need
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Re: From May 1 to May 30 in the same year, the balance in a checking accou [#permalink]

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05 Jun 2008, 19:41
this one was easy for me (DS is killing me )

got a straight C
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Re: From May 1 to May 30 in the same year, the balance in a checking accou [#permalink]

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06 Jun 2008, 13:13
puma wrote:
but OA is A

Dude where are you getting these questions?
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Re: From May 1 to May 30 in the same year, the balance in a checking accou [#permalink]

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06 Jun 2008, 13:22
I found these questions in the INternet. However, some of them with the same numbers I had in my Real GMAT test.
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Re: From May 1 to May 30 in the same year, the balance in a checking accou [#permalink]

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06 Jun 2008, 13:26
The answer can't to be A.

Sure, you can work backwards with 1.12x = 504, but that only gives you what you have in the beginning of the month. Nothing else in #1 says how much on an increase there is from May 1 to May 30, so we don't know by how much the balance increases.

#2 We don't know the starting balance, insufficient.

Together, we can work backwards with #1's info and then increase that balance by 8% with #2's info. Together they're sufficient.

What's the OA?

puma wrote:
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%, then tha balance in the account on May 30 would haven been $504. 2) During this period of time, the increase in the balance in the checking account was 8% _________________ ------------------------------------ J Allen Morris **I'm pretty sure I'm right, but then again, I'm just a guy with his head up his a$$. GMAT Club Premium Membership - big benefits and savings Intern Joined: 27 Nov 2007 Posts: 15 Followers: 0 Kudos [?]: 0 [0], given: 0 Re: From May 1 to May 30 in the same year, the balance in a checking accou [#permalink] Show Tags 06 Jun 2008, 13:55 Hi Guys, I tried to answer this question before i read you replies. I thought C as well. The first statement only lets you solve backwords for the beg balance. The second statement says what % balance increased by. I thought maybe C trick, maybe the increase is not net of payments. I.e any account has an opening balance - payments+ deposits. but it says balance. which means total. it has to be C. Otherwise it would have to be E can someone shed light how the OA is A? SVP Joined: 30 Apr 2008 Posts: 1874 Location: Oklahoma City Schools: Hard Knocks Followers: 42 Kudos [?]: 590 [0], given: 32 Re: From May 1 to May 30 in the same year, the balance in a checking accou [#permalink] Show Tags 06 Jun 2008, 13:57 The OA is A because it's a messed up question. Forget it and move on. You know your reasoning is correct. That's the point of these anyway! ca_gold wrote: Hi Guys, I tried to answer this question before i read you replies. I thought C as well. The first statement only lets you solve backwords for the beg balance. The second statement says what % balance increased by. I thought maybe C trick, maybe the increase is not net of payments. I.e any account has an opening balance - payments+ deposits. but it says balance. which means total. it has to be C. Otherwise it would have to be E can someone shed light how the OA is A? _________________ ------------------------------------ J Allen Morris **I'm pretty sure I'm right, but then again, I'm just a guy with his head up his a$$. GMAT Club Premium Membership - big benefits and savings GMAT Club Legend Joined: 09 Sep 2013 Posts: 15534 Followers: 651 Kudos [?]: 211 [0], given: 0 Re: From May 1 to May 30 in the same year, the balance in a checking accou [#permalink] Show Tags 20 Jul 2015, 01:28 Hello from the GMAT Club BumpBot! Thanks to another GMAT Club member, I have just discovered this valuable topic, yet it had no discussion for over a year. I am now bumping it up - doing my job. I think you may find it valuable (esp those replies with Kudos). Want to see all other topics I dig out? Follow me (click follow button on profile). You will receive a summary of all topics I bump in your profile area as well as via email. _________________ Math Expert Joined: 02 Sep 2009 Posts: 39071 Followers: 7762 Kudos [?]: 106622 [1] , given: 11630 Re: From May 1 to May 30 in the same year, the balance in a checking accou [#permalink] Show Tags 20 Jul 2015, 02:59 1 This post received KUDOS Expert's post 1 This post was BOOKMARKED puma wrote: 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.

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.

OPEN DISCUSSION OF THIS QUESTION IS HERE: from-may-1-to-may-30-in-the-same-year-the-balance-in-a-104269.html
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Re: From May 1 to May 30 in the same year, the balance in a checking accou   [#permalink] 20 Jul 2015, 02:59
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