242. On Jane's credit card account, the average daily balance for a 30-day billing cycle is the average (arithmetic mean) of the daily balances at the end of each of the 30 days. At the beginning of a certain 30-day billing cycle, Jane's credit card account had a balance of $600. Jane made a payment of $300 on the account during the billing sycle. If no other amounts were added to or substracted from the account during the billing cycle, what was the average daily balance on Jane's account for the billing cycle? (1)Jane's payment was credited on the 21st day of the billing cycle. (2)The average daily balance through the 25th day of the billing cycle was $540 so want to know the average daily balance on jane's account for the billing cycle, in other words, we want to know the arithmetic mean of the balance on jane's account throughout the month (balance on day 1 + balance on day 2 + ... + blance on day 30) / 30, so in order to get the average, we need information on the balances throughout the month, we know that $600 dollars was the balance in th e beginning of the month, and $300 was put in some time during the month and was the only transaction, now: (1)Jane's payment was credited on the 21st day of the billing cycle. if jane's payment was credited on the 21st day of the billing cycle then the balance of the first 20 days would be $600 and for the last 10 days would be 600 - 300 = 300, thus the mean is (600 * 20 + 300 * 10) / 30 = 500, thus 1) by itself is sufficient (2)The average daily balance through the 25th day of the billing cycle was $540. if the average daily balance through the 25th day of the billing cycle was 540, that means 300 has been put in already for the average to be lowered than 600, so (600 * x + 300 * y) / 25 = 540, x + y = 25 => x = 20, and y = 5, and thus we know the balance through the first 20 days is 600, thus 2) is sufficient to know the answer thus the answer is D |