A certain library assesses fines for overdue books as follows.

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BTGModeratorVI: Legendary Member; Posts: 1223; Joined: Sat Feb 15, 2020 2:23 pm; Followed by:1 members

A certain library assesses fines for overdue books as follows.

by BTGModeratorVI » Wed May 13, 2020 11:02 am

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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

Answer: B
Source: GMATPrep practice test

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Source: Beat The GMAT — Problem Solving | Wed May 13, 2020 11:02 am

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Brent@GMATPrepNow: GMAT Instructor; Posts: 16207; Joined: Mon Dec 08, 2008 6:26 pm; Location: Vancouver, BC; Thanked: 5254 times; Followed by:1268 members; GMAT Score:770

Re: A certain library assesses fines for overdue books as follows.

by Brent@GMATPrepNow » Wed May 13, 2020 12:37 pm

BTGModeratorVI wrote: ↑
Wed May 13, 2020 11:02 am
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

Answer: B
Source: GMATPrep practice test

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

The correct answer is B

Cheers,
Brent

Brent Hanneson - Creator of GMATPrepNow.com

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Scott@TargetTestPrep: GMAT Instructor; Posts: 8085; Joined: Sat Apr 25, 2015 10:56 am; Location: Los Angeles, CA; Thanked: 43 times; Followed by:29 members

Re: A certain library assesses fines for overdue books as follows.

by Scott@TargetTestPrep » Sat May 16, 2020 8:36 am

BTGModeratorVI wrote: ↑
Wed May 13, 2020 11:02 am
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

Answer: B
Source: GMATPrep practice test

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.

Answer: B

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