Fine Calculation

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Fine Calculation

by malolakrupa » Tue Aug 05, 2008 2:40 pm
A certain library assesses fines for overdue books as follows: on the 1st 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 fine 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

I have an issue with the answer to the following problem .

The way I solved it was was

day1 - fine = .10
day 2 - lesser of (.10 + .30 ) OR (0.10*2) = .20 . Hence total fine = .1+.2 = .3
day3 - lesser of (.3 + .3 ) OR (.3*2) . In this case it does not matter which you pick as the result will be 0.6

So the total fine due on day 4 would be 0.6 + 0.3 = 0.9

Could some one clarify ?
Source: — Problem Solving |

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by dbart06 » Tue Aug 05, 2008 3:12 pm
IMO ans = .70

Day 1) .10
Day 2) is double or now .20
Day 3) double or now .40
Day 4) double or + .30 => it will be .30

Total fine = .70

Whats OA?

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by malolakrupa » Tue Aug 05, 2008 3:56 pm
Sorry , I dont have the OA.

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by parallel_chase » Tue Aug 05, 2008 4:25 pm
OA is indeed $0.7

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by malolakrupa » Tue Aug 05, 2008 4:34 pm
Thanks parallel_chase for OA