defective ATM machine

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sanju09: GMAT Instructor; Posts: 3650; Joined: Wed Jan 21, 2009 4:27 amFollowed by: 80 members; Location: India; Thanked: 267 times; GMAT Score:760

by sanju09 » Fri Aug 06, 2010 10:17 pm

A defective ATM machine contains only 100-dollar notes and dispenses one extra note than requested. A man initially wanted to draw $1500 from this machine but ended up carry home $2300 following successive withdrawals. What was the maximum withdrawal of all made by him?

(1) The man made 8 withdrawals from the machine.
(2) One can make as many withdrawals as wished from this machine.

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Source: Beat The GMAT — Data Sufficiency | Fri Aug 06, 2010 10:17 pm

santoostar: Newbie | Next Rank: 10 Posts; Posts: 6; Joined: Sun Aug 08, 2010 10:48 am

by santoostar » Mon Aug 09, 2010 5:56 am

Well, to maximise the amount in a single withdrawl we must minimize the amount in the rest of the withdrawls.

Since the ATM dispenses only 100 notes the lowest is 100.

100*7 times----> (100+100)*7---> 1400.
the rest of the amount needs to be withdrawn in the last withdrawl.

2300-1400 = 900----> the maximum amt is 800.

I would go with A....Hope this is correct..

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sanju09: GMAT Instructor; Posts: 3650; Joined: Wed Jan 21, 2009 4:27 amFollowed by: 80 members; Location: India; Thanked: 267 times; GMAT Score:760

by sanju09 » Tue Aug 10, 2010 1:19 am

santoostar wrote:Well, to maximise the amount in a single withdrawl we must minimize the amount in the rest of the withdrawls.

Since the ATM dispenses only 100 notes the lowest is 100.

100*7 times----> (100+100)*7---> 1400.
the rest of the amount needs to be withdrawn in the last withdrawl.

2300-1400 = 900----> the maximum amt is 800.

I would go with A....Hope this is correct..

Does it read "What could be the maximum (possible) withdrawal of all made by him?"?

The mind is everything. What you think you become. -Lord Buddha

Sanjeev K Saxena
Quantitative Instructor
The Princeton Review - Manya Abroad
Lucknow-226001

www.manyagroup.com

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clammiestqasar: Senior | Next Rank: 100 Posts; Posts: 95; Joined: Wed Mar 10, 2010 3:23 amFollowed by: 1 member; Thanked: 1 times

by clammiestqasar » Tue Aug 10, 2010 2:44 am

IMO its E

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fmillar: Newbie | Next Rank: 10 Posts; Posts: 3; Joined: Tue Aug 10, 2010 8:03 am

by fmillar » Tue Aug 10, 2010 8:33 am

The answer is E.

The 1st statement gives us multiple alternatives:

- it could be 7x100 + 700 = 1400 + 1x800 + 100 = 2300. The maximum is 800.

- ....but also 7x200 + 700 = 2100 + 1X100 + 100 = 2300. The maximum is 200.

Therefore 1 is not enough

The 2nd statement does not add more information,

and the answer is E.

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