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A certain bank charges a maintenance fee on a standard. . .

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A certain bank charges a maintenance fee on a standard. . .

by Vincen » Wed Jan 03, 2018 12:03 pm
A certain bank charges a maintenance fee on a standard checking account each month that the balance falls below $1000 at any time during the month. Did the bank charge a maintenance fee on Sue's standard checking account last month?

1) At the beginning of last month, Sue's account balance was $1500

2) During last month, a total of $2000 was withdrawn from Sue's checking account.

The OA is the option E.

Using both statements I can get that the correct option is C. Am I wrong? Experts, can you give me your help, please? Thanks in advanced.
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Source: — Data Sufficiency |
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by DavidG@VeritasPrep » Wed Jan 03, 2018 5:34 pm
Vincen wrote:A certain bank charges a maintenance fee on a standard checking account each month that the balance falls below $1000 at any time during the month. Did the bank charge a maintenance fee on Sue's standard checking account last month?

1) At the beginning of last month, Sue's account balance was $1500

2) During last month, a total of $2000 was withdrawn from Sue's checking account.

The OA is the option E.

Using both statements I can get that the correct option is C. Am I wrong? Experts, can you give me your help, please? Thanks in advanced.
Statement 1: Nothing about how much is deposited or withdrawn in account. Not Sufficient.
Statement 2: Nothing about the starting account balance: Not Sufficient.
Together. We know the starting balance was $1500. We know that $2000 was withdrawn. The problem is that we know nothing about deposits. If a total of $600 had been deposited, sure, the account would have fallen below $1000 at some point, and the answer is YES, a maintenance fee would have been assessed.
But if 10,000 had been deposited before any withdrawals had been made, then the account would not have fallen below 1000 and the answer is NO, no fee would be assessed. Because we can get a YES and a NO using the statements together, they are not sufficient to answer the question. The answer is E
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