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100 points for $49 worth of Veritas practice GMATs FREE VERITAS PRACTICE GMAT EXAMS Earn 10 Points Per Post Earn 10 Points Per Thanks Earn 10 Points Per Upvote ## A certain library assesses fines for overdue books as follow ##### This topic has expert replies Moderator Posts: 3963 Joined: 07 Sep 2017 Followed by:8 members ### A certain library assesses fines for overdue books as follow by BTGmoderatorDC » Fri Apr 19, 2019 7:15 pm ## Timer 00:00 ## Your Answer A B C D E ## Global Stats Difficult A certain library assesses fines for overdue books as follows. On the first day that a book is overdue, the total fine 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 the lesser amount. What is the total for a book on the fourth day it is overdue? A.$0.60
B. $0.70 C.$0.80
D. $0.90 E.$1.00

OA B

Source: GMAT Prep

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by Brent@GMATPrepNow » Sat Apr 20, 2019 4:48 am
BTGmoderatorDC wrote:A certain library assesses fines for overdue books as follows. On the first day that a book is overdue, the total fine 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 the lesser amount. What is the total for a book on the fourth day it is overdue?

A. $0.60 B.$0.70
C. $0.80 D.$0.90
E. $1.00 OA B Source: GMAT Prep 1st day -$0.10

2nd day - $0.20 or$0.40 (double or add $0.30)$0.20 is the lesser amount

3rd day - $0.40 or$0.50 (double or add $0.30)$0.40 is the lesser amount

4th day - $0.80 or$0.70 (double or add $0.30)$0.70 is the lesser amount

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by swerve » Sat Apr 20, 2019 10:01 am
The total fine is increased by $0.30 or doubled, whichever results in a lesser amount - Keep the bolded phrases in mind... it is quite confusing though... Day 1 -$0.10
Day 2- $0.10 *2 or$0.10+$0.30 (Whichever results in a lesser amount), hence its$.20
Day 3 - $0.20*2 or$0.20+$0.30,$0.40 as its lesser
Day 4 - $0.40*2 or$0.40+$0.30,$0.70 as this is lesser

So, the correct answer is __B__.

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by Scott@TargetTestPrep » Thu Apr 25, 2019 5:52 pm
BTGmoderatorDC wrote:A certain library assesses fines for overdue books as follows. On the first day that a book is overdue, the total fine 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 the lesser amount. What is the total for a book on the fourth day it is overdue?

A. $0.60 B.$0.70
C. $0.80 D.$0.90
E. $1.00 OA B Source: GMAT Prep On day 1, the fine is$0.10.

On day 2, we have two options:

1) 0.10 + 0.30 = $0.40 2) 0.10 x 2 =$0.20

Since option 2 is the lesser of the 2 fines, the total fine, as of day 2, is $0.20. On day 3 we have two options: 1) 0.20 + 0.30 =$0.50

2) 0.20 x 2 = $0.40 Since option 2 is the lesser of the 2 fines, the total fine, as of day 3, is$0.40.

On day 4 we have two options:

1) 0.40 + 0.30 = $0.70 2) 0.40 x 2 =$0.80

Since option 1 is the lesser of the 2 fines, the total fine, as of day 4, is \$0.70.