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worth of the book and the fine charged to it as per the days

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worth of the book and the fine charged to it as per the days

by bhumika.k.shah » Sun Jan 31, 2010 3:47 am
A certain library uses the overdue-fee schedule shown above to determine what to charge a patron who turns in a book after the due date. If a patron turned in a book worth $22 and a due date of April 12, on what day was the book turned in?

(1) The overdue fee was $1.10.
(2) If the book had been turned in one day later, the overdue fee would have been $4.40 more.

HOW ????
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by ajith » Sun Jan 31, 2010 3:53 am
bhumika.k.shah wrote:A certain library uses the overdue-fee schedule shown above to determine what to charge a patron who turns in a book after the due date. If a patron turned in a book worth $22 and a due date of April 12, on what day was the book turned in?

(1) The overdue fee was $1.10.
(2) If the book had been turned in one day later, the overdue fee would have been $4.40 more.

HOW ????
1) Overdue was 1.10
1.10 is 5% of the book's worth
so from the table the book was turned in between 8-14 days from due date (Not Suff)

2) Overdue was 4.40 more than one day prior
that is 20% more the worth than one day prior
from the table it happens only on the 15th day (Sufficient)

Hence B
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by bhumika.k.shah » Sun Jan 31, 2010 11:00 am
How did u find this out ???

from the table it happens only on the 15th day (Sufficient)

Hence B
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by ajith » Sun Jan 31, 2010 11:07 am
bhumika.k.shah wrote:How did u find this out ???

from the table it happens only on the 15th day (Sufficient)

Hence B
[/quote]

By looking at the table

8-14 days overdue has a penalty of 5%
and
15-21 days have a penalty of 25%

on 15th day the overdue increases by (25-5) = 20% compared to the previous day

There is no other day with a 20% jump
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by bhumika.k.shah » Sun Jan 31, 2010 11:08 am
OMG!!!!!!!!!!!!!!!!!!

this is killing!

P.s.: got it ! thanks! :-P
ajith wrote:
bhumika.k.shah wrote:How did u find this out ???

from the table it happens only on the 15th day (Sufficient)

Hence B
By looking at the table

8-14 days overdue has a penalty of 5%
and
15-21 days have a penalty of 25%

on 15th day the overdue increases by (25-5) = 20% compared to the previous day

There is no other day with a 20% jump[/quote]
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by raisethebar » Sun Jan 31, 2010 11:40 pm
What if day is 28 and 29

on 28th the due will be 25% of 22 =5.5
on 29th the due will be 45% of 22=9.9
so the difference is still 4.4

So I think answer should be D.
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by bhumika.k.shah » Mon Feb 01, 2010 3:21 am
now i am back to being confused! :-(
raisethebar wrote:What if day is 28 and 29

on 28th the due will be 25% of 22 =5.5
on 29th the due will be 45% of 22=9.9
so the difference is still 4.4

So I think answer should be D.
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by ajith » Mon Feb 01, 2010 3:27 am
raisethebar wrote:What if day is 28 and 29

on 28th the due will be 25% of 22 =5.5
on 29th the due will be 45% of 22=9.9
so the difference is still 4.4

So I think answer should be D.
I think the answer is C

2 combined with 1 can answer the question
Last edited by ajith on Mon Feb 01, 2010 3:37 am, edited 1 time in total.
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by bhumika.k.shah » Mon Feb 01, 2010 3:35 am
[spoiler]Statement (1) is not sufficient. From the fine amount, we can tell that the book is between 8 and 14 days late. 1.10=x/100*22/1 ;1.10=2.2x ;x=5. The fine is 5%, and according to the table, the 5% fine is charged when the book is 8-14 days late. Eliminate A and D.

Statement (2) is not sufficient. If the book were returned one day later, the fine would be higher; this tells us that the book was returned on the last day of one overdue period, and the next day would have started the next period. Using the percentages from the table, if $22 is 5-7 days late, the fine is 5%, or $1.10.5/100*22/1=1.10 . At a 25% fine level, the fine is25/100*22/1=5.50 . At 45%, it's 45/100*22/1 = 9.90 . At 65%, it's 65/100*22/1 = 14.30.
From each of these periods to the next, the fine increases by $4.40. So using just Statement (2) , we can't say for certain which period the book was returned in. Eliminate B.

Put together, the two statements are sufficient. Statement (1) tells you the book is 8-14 days late, and Statement (2) tells you it is the last day of the period. it is 14 days late, so it was turned in on April 26. The answer is C.
[/spoiler]

OA C[/list]
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by bhumika.k.shah » Mon Feb 01, 2010 3:35 am
Now can someone explain????
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by raisethebar » Mon Feb 01, 2010 4:11 am
Yes i wanted to say C mitakenly typed D...... :)

if you see the table, the 20% gap can be possible at 3 places. so to eliminate other 2 possibilities we need 1st statement.
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