BREAKING: Target Test Prep releases Brand New 2026 On Demand GMAT prep course

Redeem

Don't understand this problem (seems easy)

This topic has expert replies
Post new topic Post Reply
Previous Topic Next Topic
Junior | Next Rank: 30 Posts
Posts: 20
Joined: Mon Jun 30, 2008 3:28 pm
Thanked: 1 times

Don't understand this problem (seems easy)

by H2O » Thu Jul 10, 2008 8:59 am
Hi all,

I encountered the following problem on the practice GMAT and for some reason can't figure out why they got the answer they did.

A certain library asseses fines for overdue books as follows. On the first day a book is overdue, the charge is $0.10. For each additional day that the book is overdue, the total fine is either increased by $0.30 or doubled, whichever results in a lesser amount. What is the total fine for a book on the fourth day it is overdue?

Seems easy, but I keep getting the wrong answer. Maybe I'm not reading it right.
Top
Source: — Problem Solving |
Master | Next Rank: 500 Posts
Posts: 104
Joined: Wed Feb 13, 2008 1:44 pm
Thanked: 8 times

by punit.kaur.mba » Thu Jul 10, 2008 9:05 am
My answer is 0.7. Whats the OA?
Top
Junior | Next Rank: 30 Posts
Posts: 20
Joined: Mon Jun 30, 2008 3:28 pm
Thanked: 1 times

by H2O » Thu Jul 10, 2008 9:07 am
My answer was $0.90, but the correct answer is $0.70, what you got. Can you please explain?
Top
Master | Next Rank: 500 Posts
Posts: 104
Joined: Wed Feb 13, 2008 1:44 pm
Thanked: 8 times

by punit.kaur.mba » Thu Jul 10, 2008 9:11 am
ok here you go:

1st day - 0.1
2nd day - either 0.4(0.1+0.3) or 0.2(0.1 x 2) . We choose the least so 0.2
3rd day - either 0.5(0.2 + 0.3) or 0.4(0.2 x 2). We choose 0.4
4th day - either 0.7(0.4 + 0.3) or 0.8(0.4 x 2). We choose 0.7

Ans is 0.7

Let me know if u have quest.
Top
Junior | Next Rank: 30 Posts
Posts: 20
Joined: Mon Jun 30, 2008 3:28 pm
Thanked: 1 times

by H2O » Thu Jul 10, 2008 9:36 am
Oh, I see, I was not reading the problem right. When it said "the total amount" I thought I had to add the amount from the previous day to the next day and double or add .30 to that number. This was confusing. Thank you for explaining.
Top
Post new topic Post Reply
• Page 1 of 1