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# In the town of Snyder, Bank A and Bank B were exhibitors at

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Manager
Joined: 18 Aug 2011
Posts: 59

Kudos [?]: 45 [1], given: 6

In the town of Snyder, Bank A and Bank B were exhibitors at [#permalink]

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26 Aug 2011, 03:13
1
KUDOS
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Difficulty:

(N/A)

Question Stats:

28% (01:04) correct 72% (01:52) wrong based on 52 sessions

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In the town of Snyder, Bank A and Bank B were exhibitors at the annual Snyder Days Summer Festival in an attempt to find new depositors. Both Bank A and Bank B displayed booths and manned the booths with bank employees. At the end of festival, Bank A had registered 50 new depositors, and Bank B had registered 20 new depositors, leading to \$200,000 in new deposits for each bank. Banks A and Bank B each spent \$5,000 obtaining the new deposits from the festival, and each calculated its likely profits from the festival at \$3,000.

Which of the following conclusions can be most properly drawn from the statements above?

a) Bank A and Bank B generated equivalent revenue from the festival
b) On average, Bank A's new depositors deposited more money than did the new depositors of Bank B
c) On the last day of the festival, Bank A and bank B each received the same number of new deposits
d) Bank A has more depositors than does Bank B
e) At the festival, Bank B specifically targeted those who would be able to deposit higher amounts of money

I got it wrong (don't have the OA), but here's my approach:
[Reveal] Spoiler:
a) Bank A and Bank B generated equivalent revenue from the festival Hold
b) On average, Bank A's new depositors deposited more money than did the new depositors of Bank B Other way around
c) On the last day of the festival, Bank A and bank B each received the same number of new deposits Don't know about the different days
d) Bank A has more depositors than does Bank B No information given
e) At the festival, Bank B specifically targeted those who would be able to deposit higher amounts of money Maybe they just got one rich customer and 19 poor ones. The rich one raised the average. Maybe they just got their deposits by accident without targeting a special group. Don't know

Kudos [?]: 45 [1], given: 6

Manager
Joined: 28 Jul 2011
Posts: 233

Kudos [?]: 161 [0], given: 16

Re: In the town of Snyder [#permalink]

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26 Aug 2011, 07:41
i will go for E , because both the banks earns same amount of deposits, but Bank A registered 50 new depositors and Bank B registerd 20, so clearly Bank B has targeted higher amount depositors

Kudos [?]: 161 [0], given: 16

Manager
Joined: 26 Apr 2010
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Concentration: Strategy, Entrepreneurship
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Re: In the town of Snyder [#permalink]

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26 Aug 2011, 08:20
a) Bank A and Bank B generated equivalent revenue from the festival - REVENUE vs. PROFIT
b) On average, Bank A's new depositors deposited more money than did the new depositors of Bank B - opposite may be true
c) On the last day of the festival, Bank A and bank B each received the same number of new deposits - maybe, maybe not.
d) Bank A has more depositors than does Bank B - in question are NEW depositors, not total
e) At the festival, Bank B specifically targeted those who would be able to deposit higher amounts of money - IMO, correct
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Manager
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Re: In the town of Snyder [#permalink]

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26 Aug 2011, 09:00
+1 for A
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Test Description_______Date____Total___Quant_____ Verbal
GMAT PREP1_____________________610
GMAX online test 1____29.07.2011__540_____43________19
MGMAT CAT 1_________03.09.2011__580____42________28
MGMAT CAT 2_________02.10.2011__690____48________36
GMAX online test 2_____16.10.2011__640____48________32
MGMAT CAT 3_________23.11.2011__670____47________34
Veritas free CAT______ 31.10.2011___630___ 46________33
MGMAT CAT 4_________06.11.2011__690____48________36
MGMAT CAT 5_________13.11.2011__660____46________34
MGMAT CAT 6_________19.11.2011__680____51________33
GMAT PREP2__________23.11.2011__680
GMAT Exam___________24.11.2011__690____50________34

Kudos [?]: 33 [0], given: 11

Senior Manager
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Re: In the town of Snyder [#permalink]

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27 Aug 2011, 13:05
A.
Profit=Total revenue-Total cost
For banks A and B, profit and total cost is same.
Then revenue must be same.
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Re: In the town of Snyder [#permalink]

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27 Aug 2011, 13:14
1
KUDOS
Berbatov wrote:
In the town of Snyder, Bank A and Bank B were exhibitors at the annual Snyder Days Summer Festival in an attempt to find new depositors. Both Bank A and Bank B displayed booths and manned the booths with bank employees. At the end of festival, Bank A had registered 50 new depositors, and Bank B had registered 20 new depositors, leading to \$200,000 in new deposits for each bank. Banks A and Bank B each spent \$5,000 obtaining the new deposits from the festival, and each calculated its likely profits from the festival at \$3,000.

Which of the following conclusions can be most properly drawn from the statements above?

a) Bank A and Bank B generated equivalent revenue from the festival
b) On average, Bank A's new depositors deposited more money than did the new depositors of Bank B
c) On the last day of the festival, Bank A and bank B each received the same number of new deposits
d) Bank A has more depositors than does Bank B
e) At the festival, Bank B specifically targeted those who would be able to deposit higher amounts of money

I got it wrong (don't have the OA), but here's my approach:
[Reveal] Spoiler:
a) Bank A and Bank B generated equivalent revenue from the festival Hold
b) On average, Bank A's new depositors deposited more money than did the new depositors of Bank B Other way around
c) On the last day of the festival, Bank A and bank B each received the same number of new deposits Don't know about the different days
d) Bank A has more depositors than does Bank B No information given
e) At the festival, Bank B specifically targeted those who would be able to deposit higher amounts of money Maybe they just got one rich customer and 19 poor ones. The rich one raised the average. Maybe they just got their deposits by accident without targeting a special group. Don't know

If you dont have the OA - how can u tell its the wrong answer?
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Re: In the town of Snyder [#permalink]

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27 Aug 2011, 13:20
Berbatov wrote:
In the town of Snyder, Bank A and Bank B were exhibitors at the annual Snyder Days Summer Festival in an attempt to find new depositors. Both Bank A and Bank B displayed booths and manned the booths with bank employees. At the end of festival, Bank A had registered 50 new depositors, and Bank B had registered 20 new depositors, leading to \$200,000 in new deposits for each bank. Banks A and Bank B each spent \$5,000 obtaining the new deposits from the festival, and each calculated its likely profits from the festival at \$3,000.

Which of the following conclusions can be most properly drawn from the statements above?

a) Bank A and Bank B generated equivalent revenue from the festival
b) On average, Bank A's new depositors deposited more money than did the new depositors of Bank B
c) On the last day of the festival, Bank A and bank B each received the same number of new deposits
d) Bank A has more depositors than does Bank B
e) At the festival, Bank B specifically targeted those who would be able to deposit higher amounts of money

I got it wrong (don't have the OA), but here's my approach:
[Reveal] Spoiler:
a) Bank A and Bank B generated equivalent revenue from the festival Hold
b) On average, Bank A's new depositors deposited more money than did the new depositors of Bank B Other way around
c) On the last day of the festival, Bank A and bank B each received the same number of new deposits Don't know about the different days
d) Bank A has more depositors than does Bank B No information given
e) At the festival, Bank B specifically targeted those who would be able to deposit higher amounts of money Maybe they just got one rich customer and 19 poor ones. The rich one raised the average. Maybe they just got their deposits by accident without targeting a special group. Don't know

Good explanation.

"leading to \$200,000 in new deposits for each bank"
Ans: "A"
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Kudos [?]: 2089 [0], given: 376

Math Forum Moderator
Joined: 20 Dec 2010
Posts: 1965

Kudos [?]: 2089 [0], given: 376

Re: In the town of Snyder [#permalink]

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27 Aug 2011, 13:37
144144 wrote:
Berbatov wrote:
In the town of Snyder, Bank A and Bank B were exhibitors at the annual Snyder Days Summer Festival in an attempt to find new depositors. Both Bank A and Bank B displayed booths and manned the booths with bank employees. At the end of festival, Bank A had registered 50 new depositors, and Bank B had registered 20 new depositors, leading to \$200,000 in new deposits for each bank. Banks A and Bank B each spent \$5,000 obtaining the new deposits from the festival, and each calculated its likely profits from the festival at \$3,000.

Which of the following conclusions can be most properly drawn from the statements above?

a) Bank A and Bank B generated equivalent revenue from the festival
b) On average, Bank A's new depositors deposited more money than did the new depositors of Bank B
c) On the last day of the festival, Bank A and bank B each received the same number of new deposits
d) Bank A has more depositors than does Bank B
e) At the festival, Bank B specifically targeted those who would be able to deposit higher amounts of money

I got it wrong (don't have the OA), but here's my approach:
[Reveal] Spoiler:
a) Bank A and Bank B generated equivalent revenue from the festival Hold
b) On average, Bank A's new depositors deposited more money than did the new depositors of Bank B Other way around
c) On the last day of the festival, Bank A and bank B each received the same number of new deposits Don't know about the different days
d) Bank A has more depositors than does Bank B No information given
e) At the festival, Bank B specifically targeted those who would be able to deposit higher amounts of money Maybe they just got one rich customer and 19 poor ones. The rich one raised the average. Maybe they just got their deposits by accident without targeting a special group. Don't know

If you dont have the OA - how can u tell its the wrong answer?

That's a valid question.
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Manager
Joined: 18 Aug 2011
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Re: In the town of Snyder [#permalink]

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27 Aug 2011, 21:18
fluke wrote:
That's a valid question.

If you do their sample tests, they will mark your answers green (correct) or red (wrong). However, they don't tell you the correct answer. My "A" was red so it's wrong. Still, I don't know whether it's B, C, D, or E...

Kudos [?]: 45 [0], given: 6

Math Forum Moderator
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Re: In the town of Snyder [#permalink]

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28 Aug 2011, 03:45
Berbatov wrote:
fluke wrote:
That's a valid question.

If you do their sample tests, they will mark your answers green (correct) or red (wrong). However, they don't tell you the correct answer. My "A" was red so it's wrong. Still, I don't know whether it's B, C, D, or E...

And what price are they asking to reveal the OA's and OE's, may I ask?
_________________

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Intern
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Re: In the town of Snyder [#permalink]

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29 Aug 2011, 10:21
Only A makes sense.

What kind of practise tests are these if OA are not explained and revealed?

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Manager
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Location: India
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Re: In the town of Snyder, Bank A and Bank B were exhibitors at [#permalink]

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21 Aug 2012, 02:12
For me the OA is E.

Can someone post the OA for this question?

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Re: In the town of Snyder, Bank A and Bank B were exhibitors at   [#permalink] 21 Aug 2012, 02:12
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