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# M13-15

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Math Expert
Joined: 02 Sep 2009
Posts: 47084

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16 Sep 2014, 00:49
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Difficulty:

15% (low)

Question Stats:

72% (00:38) correct 28% (00:59) wrong based on 72 sessions

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 _________________ Math Expert Joined: 02 Sep 2009 Posts: 47084 Re M13-15 [#permalink] ### Show Tags 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: $$500 + 500 + 500 - 300 = 1,200$$.

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GMAT 1: 710 Q46 V41
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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. Intern Status: in process Joined: 18 Jun 2017 Posts: 30 Location: Uzbekistan Concentration: Operations, Leadership Schools: Babson '21 GMAT 1: 690 Q47 V37 GPA: 4 WE: Education (Education) Re: M13-15 [#permalink] ### Show Tags 03 Jan 2018, 12:59 I assumed that they withdraw money with the same frequency as they deposit it. Intern Joined: 08 Jul 2016 Posts: 35 Location: Singapore GMAT 1: 570 Q43 V25 GMAT 2: 640 Q42 V36 WE: Underwriter (Insurance) Re M13-15 [#permalink] ### Show Tags 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? Math Expert Joined: 02 Sep 2009 Posts: 47084 Re: M13-15 [#permalink] ### Show Tags 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? _________________ Study Buddy Forum Moderator Joined: 04 Sep 2016 Posts: 1094 Location: India WE: Engineering (Other) M13-15 [#permalink] ### Show Tags 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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11 Jul 2018, 09:23
1
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).

Re: M13-15   [#permalink] 11 Jul 2018, 09:23
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# M13-15

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