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

Question

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

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

Bunuel · Accepted Answer

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.

tfincham86 · Answer

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.

krishireddy · Answer

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

Cheers,

LM · Answer

See the attachment Venn.PNG

prashantbacchewar · Answer

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.

Bunuel · Answer

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.

Answer: D.

fluke · Answer

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"

Spidy001 · Answer

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.

Answer is 19/30

Posted from my mobile device

subhashghosh · Answer

You have to find it in terms of Platinum card - So, 19x/15 = (19/30) * 2x

akhileshgupta05 · Answer

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)

Ousmane · Answer

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

Fabino26 · Answer

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?

KarishmaB · Answer

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

elizaanne · Answer

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)

mikeyg51 · Answer

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!

law258 · Answer

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)  = $1,000
PLATINUM Bal = (1/5)  = $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

GMAT215 · Answer

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

Abhishek009 · Answer

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)

danigonzalez01 · Answer

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

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

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