IMAT 2012 Q35 [Loans]

A student gives his friends small, short-­term loans for periods of 1, 2 or 3 weeks after which time they must be repaid in full. He always lends on a Friday afternoon. He starts with €120 and loans out the following amounts each week:


What is the smallest amount of money he has by the end of the 4th Friday?

A. €82
B. €12
C. €77
D. €100
E. €57