Question from GMAC GMAT Review 11th Edition

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Question from GMAC GMAT Review 11th Edition

by pranavc » Sun Jun 22, 2008 1:26 pm
On Jane's credit card account, the average daily balance for a 30-day billing cycle is the average (arithmetic mean) of the daily balances at the end of each of the 30 days. At the beginning of a certain 30-day billing cycle, Jane's credit card account had a balance of $600. Jane made a payment
of $300 on the account during the billing cycle. If no other amounts were added or subtracted from the account during the billing cycle, what was the average daily balance on Jane's account for the billing cycle?

(1) Jane's payment was credited on the 21st day of the billing cycle.

(2) The average daily balance through the 25th day of the billing cycle was $540.