| View previous topic :: View next topic |
| Author |
Message |
tutonaranjo
Rising GMAT Star
Joined: 20 Jun 2007
Posts: 42
Thanks given: 0
Thanked 1 times in 1 posts
|
 Posted: Thu Aug 30, 2007 11:27 am Post subject: GMAT Prep - Jane's Credit Card |
 |
|
On Jane's credit card account, the average daily balance for a 30-day billing cycle is the average (arithmetic mean) of the daily balances at the end of each of the 30 days. At the beginning of a certain 30 day billing cycle, Jane's credit card account had a balance of $600. Jane made a payment of $300 on the account during the billing cycle. If no other amounts were added to or substracted from the account during the billing cycle, what was the average daily balance on Jane's account for the billing cycle?
1) Jane's payment was credited on the 21st day of the billing cycle
2) The average daily balance through the 25th day of the billing cycle was $540
Answer is D
Could someone please explain this? |
|
| Back to top |
|
 |
|
|
ratindasgupta
Rising GMAT Star
Joined: 11 Jun 2007
Posts: 98
Thanks given: 0
Thanked 0 times in 0 posts
Location: Mumbai
|
| Posted: Thu Aug 30, 2007 11:38 am Post subject: Re: GMAT Prep - Jane's Credit Card |
|
|
| tutonaranjo wrote: | On Jane's credit card account, the average daily balance for a 30-day billing cycle is the average (arithmetic mean) of the daily balances at the end of each of the 30 days. At the beginning of a certain 30 day billing cycle, Jane's credit card account had a balance of $600. Jane made a payment of $300 on the account during the billing cycle. If no other amounts were added to or substracted from the account during the billing cycle, what was the average daily balance on Jane's account for the billing cycle?
1) Jane's payment was credited on the 21st day of the billing cycle
2) The average daily balance through the 25th day of the billing cycle was $540
Answer is D
Could someone please explain this? |
1) If Jane's payment was credited on 21st, then day 1 to day 20 would have a $600 balance and day 21 onwards, the balance will be $300. So SUFF
2) If average daily balance till 25th is $540, its obvious that the payment is already credited. Hence, day 26 onwards the balance will be $300 everyday. Hence SUFF
Answer is therefore D.
Hope this clears your doubt. |
|
| Back to top |
|
|
|
|
You cannot post new topics in this forum
You cannot reply to topics in this forum
You cannot edit your posts in this forum
You cannot delete your posts in this forum
You cannot vote in polls in this forum
You cannot attach files in this forum
You cannot download files in this forum
|
|
"GMAT" and other GMAC™ trademarks are registered trademarks of the Graduate Management Admission Council™. The Graduate Management Admission Council™ does not endorse, nor is it affiliated in any way with the owner or any content on this website. The opinions expressed here are solely those of the author or those of the members of this website. Copyright © 2008 BTG Test Prep, LLC. Powered by phpBB © 2001, 2005 phpBB Group.
|
|
