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# A school has received 60% of the amount it needs for a new

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Intern
Joined: 25 Jan 2013
Posts: 24
Followers: 0

Kudos [?]: 21 [1] , given: 11

A school has received 60% of the amount it needs for a new [#permalink]

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28 Jan 2013, 09:16
1
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1
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Difficulty:

55% (hard)

Question Stats:

73% (03:13) correct 27% (02:43) wrong based on 157 sessions

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A school has received 60% of the amount it needs for a new building by receiving a donation of $400 each from people already solicited. People already solicited represent 40% of the people from whom the school will solicit donations. How much average contribution is requited from the remaining targeted people to complete the fund raising exercise? A.$200
B. $177.78 C.$100
D. $277.78 E.$377.78
[Reveal] Spoiler: OA

Last edited by Bunuel on 28 Jan 2013, 09:21, edited 1 time in total.
Renamed the topic and edited the question.
Manager
Joined: 12 Mar 2012
Posts: 94
Location: India
Concentration: Technology, Strategy
GMAT 1: 710 Q49 V36
GPA: 3.2
WE: Information Technology (Computer Software)
Followers: 9

Kudos [?]: 308 [6] , given: 22

Re: A school has received 60% of the amount it needs for a new [#permalink]

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28 Jan 2013, 09:32
6
KUDOS
Let us suppose there are 100 people. 40% of them donated $16000 ( 400 * 40 )$16000 is 60% of total amount.
So total amount = 16000 * 100/60
Remaining amount is 40% of total amount.
40% of total amount = 16000 * (100/60) * (40/100) = 32000/3
This amount has to be divided by 60 ( remaining people are 60 )
So per head amount is 32000/3 / 60 = 32000/180 = 1600/9 = $177.78 Please give a kudo if you like my explanation. Current Student Status: Breaking my head!! Joined: 27 Jan 2013 Posts: 71 Location: India Concentration: General Management, Operations GMAT 1: 740 Q50 V40 GPA: 3.51 WE: Other (Transportation) Followers: 3 Kudos [?]: 25 [0], given: 34 Re: A school has received 60% of the amount it needs for a new [#permalink] ### Show Tags 03 Mar 2013, 02:58 Abhii46 wrote: Let us suppose there are 100 people. 40% of them donated$16000 ( 400 * 40 )
$16000 is 60% of total amount. So total amount = 16000 * 100/60 Remaining amount is 40% of total amount. 40% of total amount = 16000 * (100/60) * (40/100) = 32000/3 This amount has to be divided by 60 ( remaining people are 60 ) So per head amount is 32000/3 / 60 = 32000/180 = 1600/9 =$177.78

Please give a kudo if you like my explanation.

I have read somewhere in MGMAT books that we should not assume any quantity in the question to be 100 when any specific values are given. Here 16000 $is given. In fact we are required to calculate a specific value too. Thats y I assigned variables to the unknown and could solve the problem albeit consuming a little more time. As per the explanation however it seems perfectly fine to assume one of the quantities to be 100 and still the answer does not change. Can someone help me out here Intern Joined: 06 Jul 2010 Posts: 3 Followers: 0 Kudos [?]: 0 [0], given: 3 Re: A school has received 60% of the amount it needs for a new [#permalink] ### Show Tags 11 Jul 2013, 18:18 Let the amount school needs = X Let total people school plans to solicit = T School has received 60 % of X => (3/5) X People already solicited = 40% of T => (2/5) T Now, as per the information given in the question : (3/5)X =$400 . (2/5) . T --------------------------- 1

Remaning Amount is 40 % i.e ( 2/5 ) X ------ because school has already received 60%
And the remaining people are 60 % i.e (3/5) .T ----- because 40% of the people are already solicited

So, average contribution required from the remaining targeted people is

(2/5) X = (Amount required) . (3/5) . T ----------------------------------- 2

Divide eqn 1 by eqn 2

Amount required = $177.78 Intern Joined: 02 May 2013 Posts: 26 Concentration: International Business, Technology WE: Engineering (Aerospace and Defense) Followers: 1 Kudos [?]: 36 [0], given: 16 Re: A school has received 60% of the amount it needs for a new [#permalink] ### Show Tags 25 Jul 2013, 19:44 Let X be sum of money required to collect n be number of members solicit in total y be average money required to collect from remaining 40% people each first case: People already solicited 0.6X=0.4n*400 X=800n/3 --- (1) second case: remaining people to solicited 0.4x = 0.6n*y----(2) from eq 1 and 2 y =$177.78 (required average)
Re: A school has received 60% of the amount it needs for a new   [#permalink] 25 Jul 2013, 19:44
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# A school has received 60% of the amount it needs for a new

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