Question

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 doubled, whichever results in the lesser amount. What is the total fine for a book on the fourth day it is overdue?

Answer 1

The answer is $0.70.

Explanation:

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 doubled, whichever results in the lesser amount.

So, fine on 1st day overdue = $0.10

Fine on 2nd day overdue =
`0.10*2=0.20` (this is lesser than the value if $0.30 is added)

Fine on 3rd day overdue =
`0.20*2=0.40` (this is lesser than the value if $0.30 is added)

So, fine on 4th day overdue will be =
`0.40+0.30=0.70` dollars. (here doubling will give higher value)

So, the answer is $0.70.