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

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

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New post Updated on: 27 Jan 2019, 05:50
3
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A
B
C
D
E

Difficulty:

  85% (hard)

Question Stats:

51% (02:18) correct 49% (02:09) wrong based on 321 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:


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

Originally posted by Berbatov on 26 Aug 2011, 02:13.
Last edited by Bunuel on 27 Jan 2019, 05:50, edited 2 times in total.
Edited the question.
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Re: In the town of Snyder, Bank A and Bank B were exhibitors at the annual  [#permalink]

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New post 26 Aug 2011, 07:20
1
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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Re: In the town of Snyder, Bank A and Bank B were exhibitors at the annual  [#permalink]

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New post 27 Aug 2011, 12:05
1
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, Bank A and Bank B were exhibitors at the annual  [#permalink]

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New post 27 Aug 2011, 12:20
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:
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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Re: In the town of Snyder, Bank A and Bank B were exhibitors at the annual  [#permalink]

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New post 27 Aug 2011, 20:18
fluke wrote:
That's a valid question.


Ask the Kaplan people ;)
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...
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Re: In the town of Snyder, Bank A and Bank B were exhibitors at the annual  [#permalink]

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New post 29 Aug 2011, 09:21
Only A makes sense.

What kind of practise tests are these if OA are not explained and revealed?
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Re: In the town of Snyder, Bank A and Bank B were exhibitors at the annual  [#permalink]

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New post 02 Jun 2018, 20:31
Hi daagh

Please confirm whether the answer shall be A.


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:
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

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

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New post 02 Jun 2018, 23:08
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Yes; A would be correct. The passage says that both banks got $20000.
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Re: In the town of Snyder, Bank A and Bank B were exhibitors at the annual  [#permalink]

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New post 27 Jul 2018, 12:07
daagh wrote:
Yes; A would be correct. The passage says that both banks got $20000.


daagh sir

The passage also says that "A has more depositors than B". So why can't D be the answer?
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Re: In the town of Snyder, Bank A and Bank B were exhibitors at the annual  [#permalink]

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New post 27 Jan 2019, 05:40
Prateek176 wrote:
daagh wrote:
Yes; A would be correct. The passage says that both banks got $20000.


daagh sir

The passage also says that "A has more depositors than B". So why can't D be the answer?


The passage says
Quote:
At the end of festival, Bank A had registered 50 new depositors, and Bank B had registered 20 new depositors


This does not mean that Bank A has more depositors than Bank B. Choice D implies that Bank A has more depositors overall, out of which only 50 were registered in the exhibition. We don't know the total number of depositors before the exhibition. So, we can not say this exactly.
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Re: In the town of Snyder, Bank A and Bank B were exhibitors at the annual   [#permalink] 27 Jan 2019, 05:40
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