• Award-winning private GMAT tutoring
Register now and save up to $200 Available with Beat the GMAT members only code • 1 Hour Free BEAT THE GMAT EXCLUSIVE Available with Beat the GMAT members only code • Magoosh Study with Magoosh GMAT prep Available with Beat the GMAT members only code • Get 300+ Practice Questions 25 Video lessons and 6 Webinars for FREE Available with Beat the GMAT members only code • Free Trial & Practice Exam BEAT THE GMAT EXCLUSIVE Available with Beat the GMAT members only code • Free Practice Test & Review How would you score if you took the GMAT Available with Beat the GMAT members only code • 5 Day FREE Trial Study Smarter, Not Harder Available with Beat the GMAT members only code • 5-Day Free Trial 5-day free, full-access trial TTP Quant Available with Beat the GMAT members only code • Free Veritas GMAT Class Experience Lesson 1 Live Free Available with Beat the GMAT members only code ## From May 1 to May 30 in the same year, This topic has 1 expert reply and 0 member replies jjjinapinch Senior | Next Rank: 100 Posts Joined 24 Jul 2017 Posted: 83 messages #### From May 1 to May 30 in the same year, Mon Aug 07, 2017 8:50 am Elapsed Time: 00:00 • Lap #[LAPCOUNT] ([LAPTIME]) From May 1 to May 30 in the same year, the balance in a checking account increased. What was the balance in the checking account on May 30? (1) If, during this period of time, the increase in the balance in the checking account had been 12 percent, then the balance in the account on May 30 would have been$504
(2) During this period of time, the increase in the balance in the checking account was 8 percent.

Official Guide question

Need free GMAT or MBA advice from an expert? Register for Beat The GMAT now and post your question in these forums!

### GMAT/MBA Expert

Rich.C@EMPOWERgmat.com Elite Legendary Member
Joined
23 Jun 2013
Posted:
8699 messages
Followed by:
460 members
Thanked:
2729 times
GMAT Score:
800
Thu Aug 10, 2017 11:21 am
Hi jjjinapinch,

We're told that from May 1 to May 30 in the same year, the balance in a checking account increased. We're asked for the balance in the checking account on May 30. This question is a great example of a 'concept' question, meaning that you don't have to do any actual math to solve it (as long as you recognize the concepts involved).

1) If, during this period of time, the increase in the balance in the checking account had been 12 percent, then the balance in the account on May 30 would have been $504 Fact 1 gives us a 'hypothetical' situation, that allows us to create the following equation: (1.12)(May 1st balance) =$504

We can use this information to figure out the initial balance on May 1st, but since we don't know that ACTUAL increase in the balance of the account, we cannot determine the total in the account on May 30th.
Fact 1 is INSUFFICIENT

2) During this period of time, the increase in the balance in the checking account was 8 percent.

Fact 2 gives us the (percent) increase in the balance of the account, but we still don't know the ending balance on May 30th.
Fact 2 is INSUFFICIENT

Combined, we know:
-The balance on May 1st
-The balance increased by 8% from May 1st to May 30th

With this information, we CAN calculate the balance on May 30th (but we don't actually have to do any of the individual math 'steps' to know that).

GMAT assassins aren't born, they're made,
Rich

_________________
Contact Rich at Rich.C@empowergmat.com

### Best Conversation Starters

1 Vincen 180 topics
2 lheiannie07 61 topics
3 Roland2rule 54 topics
4 ardz24 44 topics
5 VJesus12 14 topics
See More Top Beat The GMAT Members...

### Most Active Experts

1 Brent@GMATPrepNow

GMAT Prep Now Teacher

155 posts
2 Rich.C@EMPOWERgma...

EMPOWERgmat

105 posts
3 GMATGuruNY

The Princeton Review Teacher

101 posts
4 Jay@ManhattanReview

Manhattan Review

82 posts
5 Matt@VeritasPrep

Veritas Prep

80 posts
See More Top Beat The GMAT Experts