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Easy problem?

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by LFalken » Mon Jun 15, 2009 5:22 am
For some reason, I cannot seem to see the solution to this problem which I felt was easy. It is from a practice exam of GMAT PREP.

A certian 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 fine for a book on the fourth day it is overdue?

OA= $0.70

However I though it was ( $0.90)

If someone could clarify this problem, it would much appreciated! Thanks.
LFAL
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by ssmiles08 » Mon Jun 15, 2009 5:28 am
Here you go: good explanation by logitech

https://www.beatthegmat.com/library-fine ... 22378.html
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Re: Easy problem?

by Naruto » Mon Jun 15, 2009 5:34 am
LFalken wrote:For some reason, I cannot seem to see the solution to this problem which I felt was easy. It is from a practice exam of GMAT PREP.

A certian 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 fine for a book on the fourth day it is overdue?

OA= $0.70

However I though it was ( $0.90)

If someone could clarify this problem, it would much appreciated! Thanks.
Here:
First day
total fine= 0.1
Second day,
total fine = 0.2 (doubling, since 0.2<0.3)
Third day,
total fine= 0.4 ( doubling , since 0.4< 0.3+0.2)
Fourth day,
total fine = 0.7 (since doubling the fine 0.8> 0.4+0.3)

Answer= 0.7

I hope its clear you confused with the words where total fine is doubled or added, read it again. I was doing the same mistake.
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by LFalken » Mon Jun 15, 2009 5:37 am
ssmiles08, Naruto.....

Thank you both very much. After re-reading the problem I fully understand.
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