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24 February, 21:07

Ronald is trying to reconstruct his spending pattern from May. He knows that he had $315 in his account on May 1, but after that, his receipts and balance statements are all scrambled. Here are Ronald's records: Date Transaction Type Amount ($) 5/25 Purchase 66 5/18 Purchase 90 5/30 Purchase 188 5/24 Deposit 151 5/22 Purchase 152 5/8 Deposit 104 5/3 Purchase 175 5/6 Purchase 82 Assuming that this is a complete, if scrambled, record of Ronald's May spending and that any overdraft fees incurred do not affect the running total, how many times did Ronald overdraw his account in May? a. Ronald never overdrew his account. b. Ronald only overdrew his account once. c. Ronald overdrew his account twice. d. Ronald overdrew his account more than twice.

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  1. 24 February, 22:20
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    Correct answer is : c) Ronald over drew his account twice

    Solution:-

    Let us write the transactions of Ronald starting from May 1st and then calculate the balance after that transaction. If we get any negative balance, the the account id over drawn.

    On may 1st that is on 5/1, balance is $315.

    On 5/3, he purchased worth $175, hence balance = 315-175 = $140

    On 5/6, he purchased worth $82, balance = 140-82 = $58

    On 5/8, he deposited $104, hence balance will increase now that is 58+104 = $162

    On 5/18, he purchased worth $90, hence balance = 162-90 = $72

    On 5/22, he purchased again worth $152, balance = 72-152 = - 80$, it is over drawn.

    On 5/24, he posited worth $151, balance = - 80+151=$ 71

    On 5/25, he purchased worth $66, balance = 71-66=$5

    On 5/30, he purchased worth $188, balance = 5-188 = - 183$, it is over drawn again.

    Since there is negative balance in his account 2 times, it is over drawn twice.
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