Monday, January 14, 2008

Problem Solving - 34

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 either increased by $0.30 or double, whichever results in the lesser amount. What is the total fine 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


Answer: B

Day 1 = 0.10
Day 2 = 0.20
Day 3 = 0.20*2 = 0.40

Thus on 4th day the total fine is: 0.10 + 0.20 + 0.40 = 0.70