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Re: For a certain savings account, the table shows the three transactions
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17 Apr 2022, 03:16
For this question, we have to deal with the average the daily balance at the END of each day for the entire 30 days.
For the first 10 days, the average is $1,000
For the next 5 days, the average is $650
For the next 5 days after, the average is $150
For the final 10 days, the average is $X
We're told that the average for the ENTIRE month is $1,000, so we need to use the Average Formula:
[10(1,000) + 5(650) + 5(150) + 10(X)]/30 = 1,000
This math can be done in a couple of different ways, but you'll eventually get to….
[14,000 + 10X]/30 = 1,000
14,000 + 10X = 30,000
10X = 16,000
X = 1600
Since X is the BALANCE for the last 10 days and there was already $150 in the account BEFORE the deposit was made, the deposit must be $1,450
Answer: D