credit card - billing cycle

This topic has expert replies
Source: — Problem Solving |

Legendary Member
Posts: 891
Joined: Sat Aug 16, 2008 4:21 am
Thanked: 27 times
Followed by:1 members
GMAT Score:660(

by 4meonly » Tue Oct 21, 2008 7:41 am
wow. what a big picture!!!

Generall, 4me this is more logical Q than arithmetic

Main Q: find the average amount of $ on the account of 30 days
To answer this you should know
(summ of the amounts on each day)/30 days

Initailly - 600$
credited - 300$
So ypu need to know only on what days the pyment was credited.

(1)
payment was on 21st day
so you have 600$ on 20 days and 10 days on remaining 10 days
you can easy find the average
SUFF

(2)
the average of 25 days is 540$
this means tat payment was already credited
so (25*540 + 5*300)/30 = average
SUFF

D