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Fractions-Manhattan Test

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by rishijhawar » Tue Jul 19, 2011 5:21 am
Sally has a gold credit card with a certain spending limit, and a platinum card with twice the spending limit of the gold card. Currently, she has a balance on her gold card that is 1/3 of the spending limit on that card, and she has a balance on her platinum card that is 1/5 of the spending limit on that card. If Sally transfers the entire balance on her gold card to her platinum card, what portion of her limit on the platinum card will remain unspent?
11/30; 29/60; 17/30; 19/30; 11/15
[spoiler]OA D.
IMO A as follows:
X= spending limit on her platinum card:So,
>(1/5)x + (1/3)(1/2)x
>(1/5)x + (1/6)x
>(6/30)x + (5/30)x =
>(11/30)x [/spoiler]
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by Anurag@Gurome » Tue Jul 19, 2011 5:31 am
rishijhawar wrote:Sally has a gold credit card with a certain spending limit, and a platinum card with twice the spending limit of the gold card. Currently, she has a balance on her gold card that is 1/3 of the spending limit on that card, and she has a balance on her platinum card that is 1/5 of the spending limit on that card. If Sally transfers the entire balance on her gold card to her platinum card, what portion of her limit on the platinum card will remain unspent?
11/30; 29/60; 17/30; 19/30; 11/15
[spoiler]OA D.
IMO A as follows:
X= spending limit on her platinum card:So,
>(1/5)x + (1/3)(1/2)x
>(1/5)x + (1/6)x
>(6/30)x + (5/30)x =
>(11/30)x [/spoiler]
Let the spending limit of gold card = x, then the spending limit of platinum card = 2x
Current balance on gold card = x/3, and that on platinum card = 2x/5
When Sally transfers the entire balance on her gold card to her platinum card, then 2x/5 + x/3 = 11x/15 on platinum card, which is (11 x/15)/(2 x) = 11/30 portion of her limit on platinum card.

Therefore, the portion of her limit on the platinum card will remain unspent = 1 - 11/30 = 19/30

The correct answer is D.
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by Anurag@Gurome » Tue Jul 19, 2011 5:33 am
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by rishijhawar » Tue Jul 19, 2011 7:37 am
Anurag, thanks for your reply.
This was indeed a easy problem.
While solving, I made a mistake by interpreting "balance on card" as "unspent amount". Whereas actually it is the outstanding amount (to be paid by Sally). So, unspent amount= total limit MINUS balance, right?
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by Anurag@Gurome » Tue Jul 19, 2011 7:34 pm
rishijhawar wrote:Anurag, thanks for your reply.
This was indeed a easy problem.
While solving, I made a mistake by interpreting "balance on card" as "unspent amount". Whereas actually it is the outstanding amount (to be paid by Sally). So, unspent amount= total limit MINUS balance, right?
Absolutely Rishi.
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