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17 Oct 2016, 06:01
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Joern and Bin went on a year-long round-the-world backpacking tour starting January 1. Five days before the trip, each had opened a bank account. Then their insurance companies started to withdraw $300 from their accounts, respectively, on the first business day of each month. Assuming no other deposits or withdrawals, whose account had more money in it at the end of the year of travels?
(1) On April 15 during the tour, Bin's account had twice as much money as Joern's account.
(2) On June 15 during the tour, Bin's account had four times as much money as Joern's account.
(1) On April 15 during the tour, Bin's account had twice as much money as Joern's account.
(2) On June 15 during the tour, Bin's account had four times as much money as Joern's account.
17 Oct 2016, 06:49
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Joern and Bin went on a year-long round-the-world backpacking tour starting January 1. Five days before the trip, each had opened a bank account. Then their insurance companies started to withdraw $300 from their accounts, respectively, on the first business day of each month. Assuming no other deposits or withdrawals, whose account had more money in it at the end of the year of travels?
(1) On April 15 during the tour, Bin's account had twice as much money as Joern's account.
In this case, if 1200$ were removed from both the accounts & If Bin's account has twice the money when compared to Joern.
It can be said that Bin's account will have more money at the end of the year.
Hence, this statement alone is sufficient
(2) On June 15 during the tour, Bin's account had four times as much money as Joern's account.
In this case, if 1800$ were removed from both the accounts & if Bin's account has four times as much money when compared to Joern.
It can be said that Bin's account will have more money at the end of the year
Hence, this statement alone is sufficient(Option D)
(1) On April 15 during the tour, Bin's account had twice as much money as Joern's account.
In this case, if 1200$ were removed from both the accounts & If Bin's account has twice the money when compared to Joern.
It can be said that Bin's account will have more money at the end of the year.
Hence, this statement alone is sufficient
(2) On June 15 during the tour, Bin's account had four times as much money as Joern's account.
In this case, if 1800$ were removed from both the accounts & if Bin's account has four times as much money when compared to Joern.
It can be said that Bin's account will have more money at the end of the year
Hence, this statement alone is sufficient(Option D)
12 Jun 2017, 22:52
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Will the insurance company keep deducting if the balance was zero?
For instance, A mentions Bin's balance had twice Joern's. If it was say 600 and 300, the Jorern's account could be zero in May and Bin's would be zero in June, and if the insurance company cannot deduct any more, then both their accounts can be equal (zero) by end of the year?
I know I am approaching it wrong, but that was my thinking when I saw this question!
For instance, A mentions Bin's balance had twice Joern's. If it was say 600 and 300, the Jorern's account could be zero in May and Bin's would be zero in June, and if the insurance company cannot deduct any more, then both their accounts can be equal (zero) by end of the year?
I know I am approaching it wrong, but that was my thinking when I saw this question!
