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set 24 Q 16

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by radhika1306 » Tue Sep 04, 2007 12:00 pm
From May 1 to May 30 in the same year, the balance in a checking account increased.
What was the balance in the checking account on May 30?
(1) If, during this period of time, the increase in the balance in the checking
account had been 12 percent, then the balance in the account on May 30 would
have been $504
(2) During this period of time, the increase in the balance in the checking account
was 8 percent.
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Source: — Data Sufficiency |
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Re: set 24 Q 16

by ri2007 » Tue Sep 04, 2007 1:06 pm
radhika1306 wrote:From May 1 to May 30 in the same year, the balance in a checking account increased.
What was the balance in the checking account on May 30?
(1) If, during this period of time, the increase in the balance in the checking
account had been 12 percent, then the balance in the account on May 30 would
have been $504
(2) During this period of time, the increase in the balance in the checking account
was 8 percent.
I feel the answer should be C.
With statement 1 you should be able to calculate the original amount but not the finnal on May 30 as you dont really know the rate of interest.

Statement 2 gives you the rate of increase but no information on the original amount.

Taking 1 & 2 together you should find your answer.

Is that correct?
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by radhika1306 » Tue Sep 04, 2007 2:11 pm
OA is A,can anyone help us
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by ri2007 » Tue Sep 04, 2007 2:42 pm
radhika1306 wrote:OA is A,can anyone help us
are you sure they have not given any other information in the question? pls check and let me know. Otherwise I cannot understand how they can figure it out.
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by givemeanid » Tue Sep 04, 2007 2:52 pm
It looks like either the answer is incorrect or the question is poorly worded for A to be OA. What is the source of the question?
So It Goes
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by radhika1306 » Thu Sep 06, 2007 6:52 am
attached the source
Attachments
2006-06-20_130731_Set24-Math.pdf
(22.48 KiB) Downloaded 102 times
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