naveenhv wrote:A certain bank charges a maintenance fee on a standard checking account each month that the balance falls below $1000 at any time during the month. Did the bank
charge a maintenance fee on Sue's standard checking account last month?

1) At the beginning of last month, Sue's account balance was $1500

2) During last month, a total of $2000 was withdrawn from Sue's checking account.

1) now here three cases are possible i'm assuming she didn't add any additional money to her account(although we can assume that she had deposited the money in her account during the period and can follow the same following cases as well;)
case 1) sue draws the amount from her account and amount drawn was more than 500 say 550; then balance in her account goes below the 1000 level, therefore she will pay the maintenance fee;

case 2) she draws the amount from her account and amount drawn was less than 200 say 300; then balance in her account won't go below the 1000 level, therefore she will not pay any maintenance fee;

case 3) she didn't carry out any transaction during the period, i.e. she didn't draw any thing than here balance would be 1500 and therefore she won't pay any maintenance fee;

therefore 1 alone is not sufficient to answer the question.

2)initial balance 1500; now suppose she deposits $2500 to her account and withdraws 2000; then her outstanding balance would be 2000; therefore she won't pay any maintenance fee;

now suppose she deposits $800 to her account and withdraws 2000; in this case her outstanding balance would be 300; therefore she will pay maintenance fee;

hence 2 alone is also not sufficient to answer the question.

Even after combining the above two information we won't be able to draw any conclusion..
hence answer should be E

naveenhv wrote:A certain bank charges a maintenance fee on a standard checking account each month that the balance falls below $1000 at any time during the month. Did the bank
charge a maintenance fee on Sue's standard checking account last month?

1) At the beginning of last month, Sue's account balance was $1500

2) During last month, a total of $2000 was withdrawn from Sue's checking account.

IMO E

Looks like a CR question hehe...

So many factors are missing:

1) may be someone or Sue herself deposited some amount in the bank

2) the rate of monthly interest is 200% so at the end of the month, Sue has $4500 in her account

Statement 1 only gives the information about the account balance at the start of the month. Insufficient.
Statement 2 does not tell us anything about the account balance after the money was withdrawn. Insufficient.
Statement 1 + Statement 2 :-
We have no information about deposits. Furthermore, we know that there definitely are deposits, since the customer's withdrawals for the month are greater than her initial balance at the start of the month.
Insufficient.
Hence E.