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A car is priced such that Chris can afford to pay only 50 percent of t

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A car is priced such that Chris can afford to pay only 50 percent of t  [#permalink]

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New post 14 Sep 2018, 23:16
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C
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80% (01:36) correct 20% (02:12) wrong based on 35 sessions

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A car is priced such that Chris can afford to pay only 50 percent of the total price, Debbie can afford to pay only 60 percent of the total price, and Edgar can afford to pay only 40 percent of the total price. The three of them decide to pool their funds, each paying half of the amount he or she can afford. To make the agreement work, they find a fourth person, Fred, who has available funds equal to the remaining balance of the price of the car. What is the price of the car, expressed as a percentage of Fred's available funds?

A. 125%
B. 150%
C. 200%
D. 300%
E. 400%
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A car is priced such that Chris can afford to pay only 50 percent of t  [#permalink]

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New post 15 Sep 2018, 03:48
harish1986 wrote:
A car is priced such that Chris can afford to pay only 50 percent of the total price, Debbie can afford to pay only 60 percent of the total price, and Edgar can afford to pay only 40 percent of the total price. The three of them decide to pool their funds, each paying half of the amount he or she can afford. To make the agreement work, they find a fourth person, Fred, who has available funds equal to the remaining balance of the price of the car. What is the price of the car, expressed as a percentage of Fred's available funds?

A. 125%
B. 150%
C. 200%
D. 300%
E. 400%


Total available funds with the three of C, D and E = 50+60+40=150%..
Amount the three of them pay = 150/2=75%
So the amount as % of the price of car that F has =100-75=25%

Therefore the price of the car as % of F's money = 100*100/25=400%

E
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Re: A car is priced such that Chris can afford to pay only 50 percent of t  [#permalink]

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New post 15 Sep 2018, 03:53
harish1986 wrote:
A car is priced such that Chris can afford to pay only 50 percent of the total price, Debbie can afford to pay only 60 percent of the total price, and Edgar can afford to pay only 40 percent of the total price. The three of them decide to pool their funds, each paying half of the amount he or she can afford. To make the agreement work, they find a fourth person, Fred, who has available funds equal to the remaining balance of the price of the car. What is the price of the car, expressed as a percentage of Fred's available funds?

A. 125%
B. 150%
C. 200%
D. 300%
E. 400%


Chris can contribute 0.5 * 50% = 25%
Debbie can contribute 0.5 * 60% = 30%
Edgar can contribute 0.5 * 40% = 20%

Their total contribution the pool is (25%+30%+20%) 75% of the cars total price.

Fred is the missing link and contributes the remaining 25%. (100% - 75% - 25%)

As his contribution is exactly 1/4 of the cars price, the car costs 400% of Freds available budget.

Hope this helps.

Best regards,
Chris
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Re: A car is priced such that Chris can afford to pay only 50 percent of t &nbs [#permalink] 15 Sep 2018, 03:53
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