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25 Aug 2021, 05:01
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Unspent amount in platinum is 4/5 as 1/5 is spent.
1/3 is spent is equal to 1/6 when transferred to platinum as spending limit in platinum is double of gold.
Hence, 4/5 - 1/6 = 19/30
1/3 is spent is equal to 1/6 when transferred to platinum as spending limit in platinum is double of gold.
Hence, 4/5 - 1/6 = 19/30
06 Jan 2023, 02:35
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Bunuel
krishireddy
Sally has a gold credit card with a certain spending limit, and a platinum card with twice the spending limit of the gold card. Currently, she has a balance on her gold card that is 1/3 of the spending limit on that card, and she has a balance on her platinum card that is 1/5 of the spending limit on that card. If Sally transfers the entire balance on her gold card to her platinum card, what portion of her limit on the platinum card will remain unspent?
11/30
29/60
17/30
19/30
11/15
"what portion of her limit on the platinum card will remain unspent? "..doesnt it mean what is the balance on saly's platinum card ?
Any inputs wud b appreciated
Thanks
11/30
29/60
17/30
19/30
11/15
"what portion of her limit on the platinum card will remain unspent? "..doesnt it mean what is the balance on saly's platinum card ?
Any inputs wud b appreciated
Thanks
In regards to credit cards "balance" means the amount that has been already spent. So, if your credit card limit is $100 and you've spent $5 then your balance is $5 and $100-$5=$95 is the unspent amount.
Now, let the spending limit on the gold credit card be $30 then the the spending limit on the platinum credit card will be $60.
Next:
Gold card balance = 1/3*30=$10 (so she has spent $10 and 30-10=$20 is unspent amount on the gold credit card);
Platinum card balance = 1/5*60=$12;
Entire balance on both cards 10+12=$22, if she transfers the entire balance to her platinum card then unspent amount on the platinum card will be 60-22=$38, which is 38/60=19/30 of spending limit.
Answer: D.
Hi Bunuel for question like these are suppose to now specific meaning of terms in these terms or GMAT will explain what the term balance will mean in that question stem.
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27 Apr 2024, 12:22
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