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M13-15

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M13-15 [#permalink]

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New post 16 Sep 2014, 00:49
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Money is paid into an account in portions of $500 and paid out in portions of $300. If after a month the account grew by $1,200, what is the least possible number of transactions that could have been made?

A. 3
B. 4
C. 5
D. 6
E. 7

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Re M13-15 [#permalink]

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New post 16 Sep 2014, 00:49
Official Solution:

Money is paid into an account in portions of $500 and paid out in portions of $300. If after a month the account grew by $1,200, what is the least possible number of transactions that could have been made?

A. 3
B. 4
C. 5
D. 6
E. 7

The least number of transactions is 4: \($500 + $500 + $500 - $300 = $1,200\).

Answer: B
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Collection of Questions:
PS: 1. Tough and Tricky questions; 2. Hard questions; 3. Hard questions part 2; 4. Standard deviation; 5. Tough Problem Solving Questions With Solutions; 6. Probability and Combinations Questions With Solutions; 7 Tough and tricky exponents and roots questions; 8 12 Easy Pieces (or not?); 9 Bakers' Dozen; 10 Algebra set. ,11 Mixed Questions, 12 Fresh Meat

DS: 1. DS tough questions; 2. DS tough questions part 2; 3. DS tough questions part 3; 4. DS Standard deviation; 5. Inequalities; 6. 700+ GMAT Data Sufficiency Questions With Explanations; 7 Tough and tricky exponents and roots questions; 8 The Discreet Charm of the DS; 9 Devil's Dozen!!!; 10 Number Properties set., 11 New DS set.


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Re: M13-15 [#permalink]

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New post 07 Oct 2016, 08:39
Bunuel wrote:
Official Solution:

Money is paid into an account in portions of $500 and paid out in portions of $300. If after a month the account grew by $1,200, what is the least possible number of transactions that could have been made?

A. 3
B. 4
C. 5
D. 6
E. 7

The least number of transactions is 4: \($500 + $500 + $500 - $300 = $1,200\).

Answer: B


Hi Banuel,

Would you say this is a typical GMAT question? It seems a little bit too straightforward/easy.

Thanks.
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Re: M13-15 [#permalink]

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New post 03 Jan 2018, 12:59
I assumed that they withdraw money with the same frequency as they deposit it. :oops:
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Re M13-15 [#permalink]

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New post 03 May 2018, 00:03
I think this is a high-quality question and the explanation isn't clear enough, please elaborate. doesn't withdrawal and deposit occur together? should they not have the same frequency?
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Re: M13-15 [#permalink]

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New post 03 May 2018, 00:07
Blueblu wrote:
I think this is a high-quality question and the explanation isn't clear enough, please elaborate. doesn't withdrawal and deposit occur together? should they not have the same frequency?


Do you deposit and withdraw on your bank account the same number of times?
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Resources:
GMAT Math Book | Triangles | Polygons | Coordinate Geometry | Factorials | Circles | Number Theory | Remainders; 8. Overlapping Sets | PDF of Math Book; 10. Remainders | GMAT Prep Software Analysis | SEVEN SAMURAI OF 2012 (BEST DISCUSSIONS) | Tricky questions from previous years.

Collection of Questions:
PS: 1. Tough and Tricky questions; 2. Hard questions; 3. Hard questions part 2; 4. Standard deviation; 5. Tough Problem Solving Questions With Solutions; 6. Probability and Combinations Questions With Solutions; 7 Tough and tricky exponents and roots questions; 8 12 Easy Pieces (or not?); 9 Bakers' Dozen; 10 Algebra set. ,11 Mixed Questions, 12 Fresh Meat

DS: 1. DS tough questions; 2. DS tough questions part 2; 3. DS tough questions part 3; 4. DS Standard deviation; 5. Inequalities; 6. 700+ GMAT Data Sufficiency Questions With Explanations; 7 Tough and tricky exponents and roots questions; 8 The Discreet Charm of the DS; 9 Devil's Dozen!!!; 10 Number Properties set., 11 New DS set.


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M13-15 [#permalink]

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New post 10 Jul 2018, 16:27
Bunuel generis pushpitkc pikolo2510 amanvermagmat niks18 Abhishek009 chetan2u

Is my below approach correct?

Quote:
Money is paid into an account in portions of $500 and paid out in portions of $300. If after a month the account grew by $1,200, what is the least possible number of transactions that could have been made?


Question stems asks us in what multiples of addition of $500 and subtraction of $300 each can result in $1200 after one month. Few inherent assumptions:
a. No lock on frequency on withdrawal and deposit, but as per question stem
summation of both needs to be as minimum as possible to reach $1200
b. initial amount of $0 at the start of transactions in the question stem.

Obviously for an amount to reach $1200 I need at least 3 multiples of $500 to reach $1500 and
then I need just 1 multiple of $300 to get $1200 (final amount).
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Re: M13-15 [#permalink]

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New post 11 Jul 2018, 09:23
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adkikani wrote:
Bunuel generis pushpitkc pikolo2510 amanvermagmat niks18 Abhishek009 chetan2u

Is my below approach correct?

Quote:
Money is paid into an account in portions of $500 and paid out in portions of $300. If after a month the account grew by $1,200, what is the least possible number of transactions that could have been made?


Question stems asks us in what multiples of addition of $500 and subtraction of $300 each can result in $1200 after one month. Few inherent assumptions:
a. No lock on frequency on withdrawal and deposit, but as per question stem
summation of both needs to be as minimum as possible to reach $1200
b. initial amount of $0 at the start of transactions in the question stem.

Obviously for an amount to reach $1200 I need at least 3 multiples of $500 to reach $1500 and
then I need just 1 multiple of $300 to get $1200 (final amount).


Hi adkikani,

yup your approach is fine :thumbup:
Re: M13-15   [#permalink] 11 Jul 2018, 09:23
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