naveenhv 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2) During last month, a total of $2000 was withdrawn from Sue's checking account.
We are given that a bank charges a fee for every month a checking account falls below $1,000 at any point. We must determine whether Sue was charged that fee last month.
Statement One Alone:
At the beginning of last month, Sue's account balance was $1500.
Since we do not know whether Sue withdrew any money during the month, we cannot determine whether she was charged the maintenance fee. Statement one alone is not sufficient to answer the question.
Statement Two Alone:
During last month, a total of $2000 was withdrawn from Sue's checking account.
Although we know that $2,000 was withdrawn from the checking account, without knowing the starting balance or what was deposited, we cannot determine whether the balance was ever under $1,000 during the month. Statement two alone is not sufficient to answer the question.
Statements One and Two Together:
Using the statements together, we still cannot determine whether her account fell under $1,000. We know that the account started at $1,500 and that she withdrew $2,000. However, without knowing whether she made any deposits, there is no way to know whether the account balance fell under $1,000 at any time during the month.
Answer:
E
