A bank transfers sum of money to Mr. Cathrall, who spends $20,000 of

Question

A bank transfers sum of money to Mr. Cathrall, who spends $20,000 of the amount sent to him and transfers 75% of the remaining money to Mrs. Carlyle, who spends $15,000 of the amount she receives before transferring 2/3 of the money to Mr. Leeds, who spends $5,000 and transfers 4/5 of the money remaining back to Mr. Cathrall. Assuming that the bank transfers were made at no cost, how much money did Mrs. Carlyle transfer to Mr. Leeds if Mr. Cathrall receives $260,000 in all?

A. $80,000
B. $90,000
C. $100,000
D. $110,000
E. $120,000

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Attachment:

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Sajal2408 · Answer

Mr. Cathrall received $260,000. After spending $20,000, he is left with $240,000.
Mrs. Carlyle receives (75% of $240,000) = $180,000. After spending $15,000, She's left with $165,000.
Mr. Leeds receives (2/3 of $165,000) = $110,000.

Ans : Option D

jamespeters · Answer

The key here is that Mr. Cathrall receives money twice (once from the bank, and once from Mr. Leeds). Let x denote the lump sum amount from the bank.

Bank to Cathrall: x
Cathrall to Carlyle: (x - 20,000)*(3/4)
Carlyle to Leeds: (((x - 20,000)*(3/4))-15,000)*(2/3)
Leeds to Cathrall: (((((x - 20,000)*(3/4))-15,000)*(2/3))-5,000)*(4/5)

Now we know that the total amount received by Cathrall would be the money he received from the bank PLUS the money he eventually receives from Leeds. This amounts to $260,000; re-expressed as:
x + (((((x - 20,000)*(3/4))-15,000)*(2/3))-5,000)*(4/5) = 260,000

Solving for x, we get $200,000 (the money received from the bank). We can then plug x into the expression for Carlyle to Leeds, obtaining $80,000.

Answer (IMO):  A

Fdambro294 · Answer

*sigh*

I misread the question. The question requires careful reading.

The $260,000 received by Cathrall is the amount received in the very beginning.

-$20,000 is spent and (3/4) of the REMAINING is sent to Carlyle

Carlyle receives: $240,000 (3/4) = $180,000

And here is the really tricky reading section.

“Carlyle spends $15,000 of the money she receives before transferring (2/3) OF THE MONEY to Leeds”

The (2/3) is taken on the entire $180,000 Carlyle receives. Notice how the other transfers specifically say “remaining money.”

Transfer from Carlyle to Leeds:

(2/3) ($180,000) = $120,000

Answer E

(As of now not one person picked this answer, including me lol)

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Keshav1404 · Answer

Bunuel

Please review the problem, there is no option which matches the answer. Kindly upload the solution.

A bank transfers sum of money to Mr. Cathrall, who spends $20,000 of

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