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hakyology: Senior | Next Rank: 100 Posts; Posts: 66; Joined: Tue Jun 05, 2007 1:39 pm; Thanked: 1 times

prep easy question

by hakyology » Mon Aug 04, 2008 11:56 am

A certain library assesses fines for overdue books as follows. On the first day that a book is overdue, the total fine is 10 cents. For each additional day that the book is overdue, the total fine is either increased by 30 cents or doubled, whichever results in the lesser amount. What is the total fine for a book on the fourth day it is overdue?

The answer is $0.7

I got $0.8

Please explain. Thank you.

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Source: Beat The GMAT — Problem Solving | Mon Aug 04, 2008 11:56 am

parallel_chase: Legendary Member; Posts: 1153; Joined: Wed Jun 20, 2007 6:21 am; Thanked: 146 times; Followed by:2 members

by parallel_chase » Mon Aug 04, 2008 1:23 pm

10 (fine due for the 1st day)
20 (double the fine=20, add 30 cents =40)
40 (double the fine=40, add 30 cents=50)
70 (double the fine=80, add 30 cents=70)

Therefore the answer is $.7

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hakyology: Senior | Next Rank: 100 Posts; Posts: 66; Joined: Tue Jun 05, 2007 1:39 pm; Thanked: 1 times

however,

by hakyology » Mon Aug 04, 2008 6:49 pm

I dont understand when you add 30 cents.

first day is 10 cents
second day is 40 cents.
third day is 50 cents (?) instead of 70 cents?
fourth day is 70 cents (?) instead of a dollar?

Please explain. thank you.

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sibbineni: Master | Next Rank: 500 Posts; Posts: 222; Joined: Fri Jan 04, 2008 8:10 pm; Thanked: 15 times

by sibbineni » Mon Aug 04, 2008 7:12 pm

overdue, the total fine is either increased by 30 cents or doubled, whichever results in the lesser amount--(1)

total fine for 4 days

1st day 10

2nd day (double the fine=20 or adding 30=40 but according to (1) we should take lesser amount so fine=20)

3rd day(double the fine=40, add 30 cents=50 but according to (1) we should take lesser amount so fine=40)

4th day( double the fine=80 and adding 30 cents =70 but according to (1) we should take lesser amount so fine=70)

so answer is $.7

i hope it helps