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29 Jan 2008, 11:00
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The average (arithmetic mean) monthly balance in Company X's petty cash account on any given date is the average (arithmetic mean) of the closing balances posted on the last business day of each of the past 12 months. On March 6, 1990, the average (arithmetic mean) monthly balance was $692.02. What was the average (arithmetic mean) monthly balance as of June 23, 1990 ?
(1) As of June 23, 1990, the total of all the closing balances posted on the last business day of each of the last 12 months was $45.64 less than it had been on March 6, 1990.
(2) The closing balances posted on the last business days of March, April, and May, 1990 were $145.90, $3,000.00, and $725.25, respectively.
I thought this was pretty tough. Spoiler below
[spoiler]OA is A[/spoiler]
(1) As of June 23, 1990, the total of all the closing balances posted on the last business day of each of the last 12 months was $45.64 less than it had been on March 6, 1990.
(2) The closing balances posted on the last business days of March, April, and May, 1990 were $145.90, $3,000.00, and $725.25, respectively.
I thought this was pretty tough. Spoiler below
[spoiler]OA is A[/spoiler]
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29 Jan 2008, 11:45
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the problem deals with average balance = (x_i+ ... + x_{i-11})/12.
1 is sufficient: 692.02 - 45.64/12 (because new total is 692.02*12 + 45.64)
2 is insufficient - new total can not be calculated because no information about cash balance for March, April, May of 1989.
1 is sufficient: 692.02 - 45.64/12 (because new total is 692.02*12 + 45.64)
2 is insufficient - new total can not be calculated because no information about cash balance for March, April, May of 1989.
Archived Topic
Hi there,
This topic has been closed and archived due to inactivity or violation of community quality standards. No more replies are possible here.
Where to now? Join ongoing discussions on thousands of quality questions in our Data Sufficiency (DS) Forum
Still interested in this question? Check out the "Best Topics" block above for a better discussion on this exact question, as well as several more related questions.
Thank you for understanding, and happy exploring!
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