Ask Questions, Discuss Approaches & No Clutter

A certain library assesses fines for overdue books as follows

Open 1 Answers 385 Views

A certain library assesses fines for overdue books as follows. On the first day that a book is overdue, the total fine is $0.10. For each additional day that the book is overdue, the total fine is increased by $0.30 or doubled, whichever results in a lesser amount. What is the total for a book on the fourth day it is overdue?
A. $0.60 
B. $0.70 
C. $0.80 
D. $0.90 
E. $1.00
i approached it and got 0.90. Somehow this answer is wrong but i am unable to understand the approach for the right answer. somebody please help


Official Answer

1 Answer


In questions like these, whether i am running low on time i prefer to write down the complete answer because i am certain to get these juicy questions correct. The reason probably one can get these questions wrong is probably you try to solve them in your brain ( a cardinal sin ;) )

Day By Doubling By Adding 0.3 Lower Value
1 0.1 NA 0.1
2 0.2 0.4 0.2
3 0.4 0.5 0.4
4 0.8 0.7 0.7

Hence the answer C

answered Jun 15, 2014 by Senior Associate (475 points)
Student Speaks

Jyotsna Mehta

Indian School of Business, Co'18

I am very thankful to Gmatxchange and would definitely recommend Gmatxchange mentors to all those students applying for MBA admissions

Your Tentative GMAT Score
Estimate your GMAT score.
The scorer helps you to determine your current level within a few questions you solve.Read More
Please log in or register to use the Scoring Feature
Confused about your profile & colleges, Get FREE profile evaluation today from over 10 consultants.
Follow us and get quick prep updates on Facebook