Consider a bank where loan applications are first reviewed by a credit analyst,

Question

Consider a bank where loan applications are first reviewed by a credit analyst, and then by a loan officer. The credit analyst takes 8 minutes to review each application, and the loan officer takes 16 minutes for each application. Both start the day with no other work. A batch of 5 applications is delivered to the credit analyst at the start of the day. Assuming that the credit analyst gives each application AS SOON AS IT IS REVIEWED to the loan officer, how long (in minutes) does it take for the batch to be completed (by both the credit analyst and the loan officer)?

Explanation / Answer

Lets think in thi way

both credit analyst and loan officer start their work. Credit analyst receives frst application and process it in 8 minutes. During this time loan office is idle and has no work. After 8th minute loan officer starts working and take 16 minute to accomplish 1st application process. During these 16 minutes credit analyst would have finished processing another 2 applications.

the credit analysit is continuously working . he has taken time to finish 5 applications in a batch = 5 * 8 = 40 Minutes.

first 8 minutes loan officer was idle . So he has worked for 40- 8 = 32 minutes when credit analyst was working .

In 32 minutes loan officer would have finishe 32/16 ( time per application) = 2 applications.

So the balance 3 applications that loan officer needed to finish. time taken to finish balance 3 applications = 3 * 16= 48 minutes.

Total time take to finish the 5 applications in the batch= time taken by credit analyst + time taken by loan officer after credit analyst finish the job = 40 + 48 = 88 minutes.

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