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Sally has a gold credit card with a certain spending limit,

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Sally has a gold credit card with a certain spending limit,   [#permalink]

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14 Dec 2010, 07:42
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Question Stats:

53% (02:00) correct 47% (02:03) wrong based on 212 sessions

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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?

A. 11/30
B. 29/60
C. 17/30
D. 19/30
E. 11/15
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14 Dec 2010, 09:17
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krishireddy wrote:
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

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.

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14 Dec 2010, 08:13
2
krishireddy wrote:
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

This is how I did it:

The questions tells us 2*Gold=Plat

Therefore 1/3 on her Gold Card=1/6 on Platinum

1/5+1/6=11/30
1-11/30=19/30 to remain unspent.
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14 Dec 2010, 12:03
1
Bunuel wrote:
krishireddy wrote:
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

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.

Got it....That helps me understand the Question. Thanks for the help Bunnel.

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14 Dec 2010, 23:11
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16 Dec 2010, 02:57
Bunuel wrote:
krishireddy wrote:
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

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.

Hi Bunuel,

As per your explaination that I have marked seems confusing to me. I feel that the balance on the platinum card now is $22 and hence the unspent amount should be$22 and not 60-22 = $38 thus answer should be 22/60 = 11/30. Math Expert Joined: 02 Sep 2009 Posts: 59075 Re: Saly's credit card [#permalink] Show Tags 16 Dec 2010, 04:46 prashantbacchewar wrote: Hi Bunuel, As per your explaination that I have marked seems confusing to me. I feel that the balance on the platinum card now is$22 and hence the unspent amount should be $22 and not 60-22 =$38 thus answer should be 22/60 = 11/30.

Please read carefully: 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 (entire amount spent) 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.

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Re: Spending Limit on a credit card  [#permalink]

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06 Feb 2011, 00:03
1
G card spending limit: x
G card balance: (1/3)x
P card spending limit: 2x
P card balance: (2/5)x

Portion used on P card

((1/3)x + (2/5)x)/2x = 11/30

Portion unused: 1-11/30 = 19/30

Ans: "D"
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Re: easy one from mgmat free parctice test  [#permalink]

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29 Apr 2011, 07:37
question is not asking about left over amount. It's asking for what portion of platinum limit is unspent?

Type Limit. balance
gold L L/3
Plat. 2L. 2L/5

After transfer frm gold to plat, new
balance on plat = 2L/5 + L/3 = 11L/15

Left over amount = 2L -( 11L/15)
= 19L/15
= (19L/30)*2L ( in terms of card limit.

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Re: PS - MGMAT Credit CARD LIMIT  [#permalink]

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22 Jun 2011, 02:47
You have to find it in terms of Platinum card - So, 19x/15 = (19/30) * 2x
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Re: PS - MGMAT Credit CARD LIMIT  [#permalink]

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22 Jun 2011, 03:21
Let the Limit on Gold Card be l.
So limit on Platinum will be 2l.

Balance on Gold Card =$$\frac{l}{3}$$
Balance on Platinum Card = $$\frac{2l}{5}$$

When the balance is transferred from gold to plantinum. The balance on platinum will be

$$\frac{l}{3} + \frac{2l}{5} = \frac{11l}{15}$$

So fraction of the total limit spent = $$\frac{11l}{15}* \frac{1}{2l}$$
Which equals $$\frac{11}{30}$$

Therefore unspent = $$1-\frac{11}{30}=\frac{19}{30}$$

Hence (D)
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Re: Sally has a gold credit card with a certain spending limit,  [#permalink]

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04 Nov 2012, 01:40
If GMAT tests English in PS parts, then we who have French as a native tongue are deemed to lose.
Balance in French means what remains in one's account.
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Re: Sally has a gold credit card with a certain spending limit,  [#permalink]

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03 Feb 2014, 05:25
Ousmane wrote:
If GMAT tests English in PS parts, then we who have French as a native tongue are deemed to lose.
Balance in French means what remains in one's account.
Brother Karamazov

Nothing "remains" on your account; Its an ordinary credit card, not some pre-paid credit card with a positive balance or a debit card. You use it to make debt and at some point, you will reach a limit. The question is what portion of her limit on the platinum card will remain unspent?
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Sally has a gold credit card with a certain spending limit,  [#permalink]

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13 Nov 2014, 05:45
1
bigtreezl wrote:
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

Responding to a pm:

Plug in some convenient values:
Say gold card limit = $15 Platinum card limit =$30

Balance in gold card = (1/3) * 15 = 5
Balance in platinum card = (1/5) * 30 = 6

Transfer gold card's balance to platinum card's balance to get platinum card balance of 6+5 = $11 Unspent limit on platinum = 19/30 _________________ Karishma Veritas Prep GMAT Instructor Learn more about how Veritas Prep can help you achieve a great GMAT score by checking out their GMAT Prep Options > Intern Joined: 21 Apr 2014 Posts: 39 Re: Sally has a gold credit card with a certain spending limit, [#permalink] Show Tags 13 Nov 2014, 15:48 1 So we know that twice the gold limit equals the platinum limit, and can write it as 2G=P she has a balance on the gold card that is 1/3 its limit, which is 1/6 the platinum limit she has a balance on the platinum card that is 1/5 of the limit If she transfers the balance of the gold card onto the platinum card the total is 1/6+1/5 or 11/30 Now this is where it gets really important to keep in mind exactly what the question is asking for. 11/30 is an answer choice and you may be tempted to choose it, but the question asks for what proportion will remain unspent, so its actually 1-11/30 or 19/30 (D) _________________ Eliza GMAT Tutor bestgmatprepcourse.com Intern Joined: 07 Jun 2016 Posts: 30 GPA: 3.8 WE: Supply Chain Management (Manufacturing) Re: Sally has a gold credit card with a certain spending limit, [#permalink] Show Tags 07 Oct 2016, 15:36 krishireddy wrote: 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? A. 11/30 B. 29/60 C. 17/30 D. 19/30 E. 11/15 This is how I solved it as I am not as algebraically-gifted as some lol: -Gold (G) = x and Platinum (P) = 2x -Balance G=1/3 of the limit and Balance P=1/5 limit -in order to find a nice number to plug in for total I used$1,500 dollars because 3*5=15 from the denominators.
-out of 1,500 limit on the gold, 500 has been spent and out of $3,000 limit on P,$600 has been spent
- 1100/3000 = 11/30, so the unspent is 19/30. Took me around 2 minutes or so. I now realize this could've been solved much faster!
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Re: Sally has a gold credit card with a certain spending limit,  [#permalink]

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07 Nov 2016, 14:10
Fair question.

Let's pretend that the limits are the following:

GOLD $3,000 limit PLATINUM$6,000 limit

Then we are told about the balances on each card.

GOLD Bal = (1/3)[card's limit] = $1,000 PLATINUM Bal = (1/5)[card's limit] =$1,200

If we transfer Gold Bal to Platinum card --> $2,200 new bal -->$6,000-$2,200 =$3,800 remains on the card

$3,800/$6,000 = 38/60=19/30

D
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Re: Sally has a gold credit card with a certain spending limit,   [#permalink]

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16 Feb 2018, 06:52
Go me answer seems to be E. 11/30

This is how I calculated..

Say,

Total Limit of gold card = 90
So,
Total limit on platinum card = 180

Balance on gold card = 1/3 * 90 = 30
Balance on platinum card = 1/5 * 180 = 36

Transfer 30 to platinum, new balance at platinum = (existing + received from gold card) : 36 + 30 = 66

Total balance on platinum card / total limit of platinum card

66/180 = 11/30
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Re: Sally has a gold credit card with a certain spending limit,  [#permalink]

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31 Aug 2019, 07:44
krishireddy wrote:
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?

A. 11/30
B. 29/60
C. 17/30
D. 19/30
E. 11/15

Let the Credit limit of the Gold card be 30 , she has spent 20 and is left with only 10

So the Credit limit of the Platinum card will be 60 , she has spent 48 and is left with only 12

Balance after transfer of entire balance of Gold card to platinum card will be 10 + 12 = 22

So, Portion of Platinum card limit left unspent is 22/60 = 11/30 , Answer must be (A)
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22 Oct 2019, 16:33
Lets do this with variables:

............... g ......... p
Limit........ x ......... 2x
Balace...... x/3 ..... 2x/5
Unspent.... 2x/3 ... 3x/5

When the balance is transfered to the platinum card, you get: x/3 + 2x/5 = 11x/15
Be wary: the question asks for the unspent of the PLATINUM card, so it has to be in terms of 2x: 11x/5 = 2x*(11/30)
If 2x*(11/30) is the balance, the unspent portion is 2x*(19/30) hence the answer is 19/30
Credit Card   [#permalink] 22 Oct 2019, 16:33
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