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# Q: A college has raised 75% of the amount it needs for a new

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Senior Manager
Joined: 04 Jan 2006
Posts: 280
Followers: 1

Kudos [?]: 20 [0], given: 0

Q: A college has raised 75% of the amount it needs for a new [#permalink]  31 Jan 2007, 21:10
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0% (00:00) correct 0% (00:00) wrong based on 2 sessions
Q: A college has raised 75% of the amount it needs for a new building by receiving an average donation of $60 from the people already solicited. The people already solicited represent 60% of the people the college will ask for donations. If the college is to raise exactly the amount needed for the new building, how much must the remaining people donate per person? A)$25
B) $30 C)$40
D) $50 E)$60
Senior Manager
Joined: 12 Mar 2006
Posts: 367
Schools: Kellogg School of Management
Followers: 2

Kudos [?]: 37 [0], given: 3

75% of total (T) has been obtained from 60% of donors (total num of donors N)

0.75T => 0.6N

0.75T/0.6N = 60 => T/N = 60*0.6/0.75

Need to calculate 0.25T/0.4N

= (0.25*60*0.6)/(0.75*0.4) = 30

so B ?
VP
Joined: 09 Jan 2007
Posts: 1045
Location: New York, NY
Schools: Chicago Booth Class of 2010
Followers: 10

Kudos [?]: 158 [0], given: 3

That is correct B is the answer.

We could also substitute some numbers, imagine there are 100 people, so:

60 contributed with $60, given 75% of total donation (D): 60x$60=75%xD D=4800
We now that the school already received 60x$60=$3600, so we need more $1200 from 40 people (100 total - 60), giving us an average of$30.
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