set 24 Q 16

[radhika1306]

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.

[ri2007]

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?

[radhika1306]

OA is A,can anyone help us

[ri2007]

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.

[givemeanid]

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?

[radhika1306]

attached the source