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Every day a certain bank calculates its average daily deposit for that calendar month up to and including that day. If on a randomly chosen day in June the sum of all deposits up to and including that day is a prime integer greater than 100, what is the probability that the average daily deposit up to and including that day contains fewer than 5 decimal places?
  • a)
    1/10
  • b)
    2/15
  • c)
    4/15
  • d)
    3/10
  • e)
    11/30
Correct answer is option 'D'. Can you explain this answer?
Verified Answer
Every day a certain bank calculates its average daily deposit for that...
To calculate the average daily deposit, we need to divide the sum of all the deposits up to and including the given date by the number of days that have elapsed so far in the month. For example, if on June 13 the sum of all deposits to that date is $20,230, then the average daily deposit to that date 
would be

We are told that on a randomly chosen day in June the sum of all deposits to that day is a prime integer greater than 100. We are then asked to find the probability that the average daily deposit up to that day contains fewer than 5 decimal places.
In order to answer this question, we need to consider how the numerator (the sum of all deposits, which is defined as a prime integer greater than 100) interacts with the denominator (a randomly selected date in June, which must therefore be some number between 1 and 30).
First, are there certain denominators that – no matter the numerator – will always yield a quotient that contains fewer than 5 decimals?
Yes. A fraction composed of any integer numerator and a denominator of 1 will always yield a quotient that contains fewer than 5 decimal places. This takes care of June 1.
In addition, a fraction composed of any integer numerator and a denominator whose prime factorization contains only 2s and/or 5s will always yield a quotient that contains fewer than 5 decimal places. This takes cares of June 2, 4, 5, 8, 10, 16, 20, and 25.
Why does this work? Consider the chart below:


What about the other dates in June?
If the chosen day is any other date, the denominator (of the fraction that makes up the average daily deposit) will contain prime factors other than 2 and/or 5 (such as 3 or 7). Recall that the numerator (of the fraction that makes up the average daily deposit) is defined as a prime integer greater than 100 (such as 101).
Thus, the denominator will be composed of at least one prime factor (other than 2 and/or 5) that is not a factor of the numerator. Therefore, when the division takes place, it will result in an infinite decimal. (To understand this principle in greater detail read the explanatory note that follows this solution.) Therefore, of the 30 days in June, only 9 (June 1, 2, 4, 5, 8, 10, 16, 20, and 25) will produce an average daily 
deposit that contains fewer than 5 decimal places:

Explanatory Note: Why will an infinite decimal result whenever a numerator is divided by a denominator composed of prime factors (other than 2 and/or 5) that are not factors of the numerator?
Consider division as a process that ends when a remainder of 0 is reached.
Let's look at 1 (the numerator) divided by 7 (the denominator), for example. If you divide 1 by 7 on your calculator, you will see that it equals .1428... This decimal will go on infinitely because 7 will never divide evenly into the remainder. That is, a remainder of 0 will never be reached.

For contrast, let's look at 23 divided by 5:

So 23/5 = 4.6. When the first remainder is divided by 5, the division will end because the first remainder (3) is treated as if it were a multiple of 10 to facilitate the division and 5 divides evenly into multiples of 10.
By the same token, the remainder when an odd number is divided by 2 is always 1, which is treated as if it were 10 to facilitate the division. 10 divided by 2 is 5 (hence the .5) with no remainder.
When dividing by primes that are not factors of 10 (e.g., 3, 7, 11, etc.), however, the process continues infinitely because the remainders will always be treated as if they were multiples of 10 but the primes cannot divide cleanly into 10, thus creating an endless series of remainders to be divided.
If the divisor contains 2's and/or 5's in addition to other prime factors, the infinite decimal created by the other prime factors will be divided by the 2's and/or 5's but will still be infinite.
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Most Upvoted Answer
Every day a certain bank calculates its average daily deposit for that...

Solution:

Given:
- The sum of all deposits up to and including a randomly chosen day in June is a prime integer greater than 100.
- We need to find the probability that the average daily deposit up to and including that day contains fewer than 5 decimal places.

Approach:
- Let's break down the problem step by step to find the probability.

Step 1: Prime Numbers Greater than 100:
- Prime numbers greater than 100 in the month of June are 101, 103, 107, 109, 113, 127, 131, 137, 139, 149, 151, 157, 163, 167, 173, 179, 181, 191, 193, 197, and 199.

Step 2: Total Possible Days in June:
- June has a total of 30 days.

Step 3: Calculate the Number of Days for Prime Numbers with Fewer than 5 Decimal Places:
- Among the prime numbers greater than 100, the prime numbers with fewer than 5 decimal places are 101, 103, 107, 109, 113, 127, 131, 137, and 139.
- The number of days corresponding to these prime numbers is 9.

Step 4: Calculate the Probability:
- The probability of the average daily deposit having fewer than 5 decimal places is the number of favorable outcomes (9 days) divided by the total possible outcomes (30 days).
- Probability = 9/30 = 3/10.

Therefore, the probability that the average daily deposit up to and including a randomly chosen day in June contains fewer than 5 decimal places is 3/10, which corresponds to option 'D'.
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Every day a certain bank calculates its average daily deposit for that calendar month up to and including thatday. If on a randomly chosen day in June the sum of all deposits up to and including that day is a primeinteger greater than 100, what is the probability that the average daily deposit up to and including that daycontains fewer than 5 decimal places?a)1/10b)2/15c)4/15d)3/10e)11/30Correct answer is option 'D'. Can you explain this answer?
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