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11 Oct 2018, 04:13
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C
Be sure to select an answer first to save it in the Error Log before revealing the correct answer (OA)!
Difficulty:
45%
(medium)
Question Stats:
62% (01:14) correct
38%
(01:05)
wrong
based on 244
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What was the ledger balance in the saving bank account on January 31?
(1) Had the increase in the ledger balance, from January 1 to January 31, in the saving bank account been 15 percent, then the ledger balance in the account on January 31 would have been $1150.
(2) From January 1 to January 31, the increase in the ledger balance in the saving bank account was 10 percent.
(1) Had the increase in the ledger balance, from January 1 to January 31, in the saving bank account been 15 percent, then the ledger balance in the account on January 31 would have been $1150.
(2) From January 1 to January 31, the increase in the ledger balance in the saving bank account was 10 percent.
11 Oct 2018, 05:47
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The answer is C.
We can solve this question Logically - by examining the type of data which is necessary to solve the question.
Both statements describe a balance which changed between two dates (1st and 31st), meaning we have three variables: the original balance, the new one and the change between them.
As with any equation with three variables, we'll have to know two of them (the balance on the 1st and the change) in order to find the third (the balance on the 31st).
1) this is entirely hypothetical - since we don't know if the increase was indeed 15% or not, this tells us nothing about the balance on the 31st.
2) Without any data on the balance on the 1st, knowing the difference from that balance is insufficient.
Combined: (1) is sufficient to find the balance on the 1st (by dividing 1150 by 1.15). (2) gives us the change. Together, we have two variables out of three - sufficient!!
(to spell it out: the balance on the 1st is 1150/1.15= 1,000. the change is 10%. 1,000*1.1=1,100= the balance on the 31st)
We can solve this question Logically - by examining the type of data which is necessary to solve the question.
Both statements describe a balance which changed between two dates (1st and 31st), meaning we have three variables: the original balance, the new one and the change between them.
As with any equation with three variables, we'll have to know two of them (the balance on the 1st and the change) in order to find the third (the balance on the 31st).
1) this is entirely hypothetical - since we don't know if the increase was indeed 15% or not, this tells us nothing about the balance on the 31st.
2) Without any data on the balance on the 1st, knowing the difference from that balance is insufficient.
Combined: (1) is sufficient to find the balance on the 1st (by dividing 1150 by 1.15). (2) gives us the change. Together, we have two variables out of three - sufficient!!
(to spell it out: the balance on the 1st is 1150/1.15= 1,000. the change is 10%. 1,000*1.1=1,100= the balance on the 31st)
Target4bschool
Joined: 29 Dec 2019
Last visit: 20 Jan 2026
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Schools: IE MiM (Sep 21 Start) (A)
20 Nov 2020, 23:13
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I am still confused about option A.
Let the actual balance be x.
Then, 115x/100 = 1150
So, x= 1000 --> sufficient.
Let the actual balance be x.
Then, 115x/100 = 1150
So, x= 1000 --> sufficient.
