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A project scheduled to be carried out over a single fiscal

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A project scheduled to be carried out over a single fiscal  [#permalink]

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New post 23 Jul 2012, 03:16
2
4
00:00
A
B
C
D
E

Difficulty:

  5% (low)

Question Stats:

92% (00:53) correct 8% (01:29) wrong based on 1217 sessions

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A project scheduled to be carried out over a single fiscal year has a budget of $12,600, divided into12 equal monthly allocations. At the end of the fourth month of that fiscal year, the total amount actually spent on the project was $4,580. By how much was the project over its budget?

(A) $380
(B) $540
(C) $1,050
(D) $1,380
(E) $1,430

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Re: A project scheduled to be carried out over a single fiscal  [#permalink]

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New post 23 Jul 2012, 03:16
SOLUTION

A project scheduled to be carried out over a single fiscal year has a budget of $12,600, divided into12 equal monthly allocations. At the end of the fourth month of that fiscal year, the total amount actually spent on the project was $4,580. By how much was the project over its budget?

(A) $380
(B) $540
(C) $1,050
(D) $1,380
(E) $1,430

The budget for 4 months was \(\frac{$12,600}{12}*4=$4,200\). Thus, the project was \($4,580-$4,200=$380\) over budget for the first 4 months.

Answer: A.
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Re: A project scheduled to be carried out over a single fiscal  [#permalink]

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New post 23 Jul 2012, 04:41
Hi,

Difficulty level: 600

Each month's budget = 12600/12 = 1050
Budget for 4 months = 4*1050 = 4200
Actual amount spent = 4580
Amount spent over the budget = 4580 - 4200 = 380

Answer (A),

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Re: A project scheduled to be carried out over a single fiscal  [#permalink]

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New post 27 Jul 2012, 05:35
SOLUTION

A project scheduled to be carried out over a single fiscal year has a budget of $12,600, divided into12 equal monthly allocations. At the end of the fourth month of that fiscal year, the total amount actually spent on the project was $4,580. By how much was the project over its budget?

(A) $380
(B) $540
(C) $1,050
(D) $1,380
(E) $1,430

The budget for 4 months was \(\frac{$12,600}{12}*4=$4,200\). Thus, the project was \($4,580-$4,200=$380\) over budget for the first 4 months.

Answer: A.
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Re: A project scheduled to be carried out over a single fiscal  [#permalink]

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New post 05 Oct 2012, 02:54
I get worried if i get the answer quickly and end up working the question out a second time eventually ending in taking up as much time as i would have had the question been a tough one. :(
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Re: A project scheduled to be carried out over a single fiscal  [#permalink]

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New post 30 Jun 2014, 20:18
My thinking : It's total amt planned for year and how differed in Action
Principles : Basic Operations
Total amt for the financial year is 12,600 , for each month amount is 1050
Spent amt for 4months is 4580 instead 4200 mean ,spent over 380 more
A. :-D
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Re: A project scheduled to be carried out over a single fiscal  [#permalink]

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New post 02 Jul 2014, 01:44
Difference =

\(4580 - \frac{12600}{12} * 4\)

= 380
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Re: A project scheduled to be carried out over a single fiscal  [#permalink]

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New post 19 Aug 2014, 13:02
Although this is a fairly simple question with easy calculations, but one alternative technique that can be applied is approximations, esp. on similar questions with complex calculations.
12600/12 ~= 1000 so 4 months ~= 4000, hence over budget ~= 580, i.e. 4580 - 4000, thus eliminating C, D and E. Now the approximation that we did was >$40, thus the answer must be (A) $380.
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Re: A project scheduled to be carried out over a single fiscal  [#permalink]

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New post 19 May 2016, 09:19
Bunuel wrote:
A project scheduled to be carried out over a single fiscal year has a budget of $12,600, divided into12 equal monthly allocations. At the end of the fourth month of that fiscal year, the total amount actually spent on the project was $4,580. By how much was the project over its budget?

(A) $380
(B) $540
(C) $1,050
(D) $1,380
(E) $1,430


We know that our yearly budget must be divided into 12 EQUAL monthly allocations, so we need to divide $12,600 by 12. This will give us the amount of each monthly allocation. We have:

$12,600/12 = $1,050

Thus, $1,050 should be spent PER MONTH on the project. Therefore, after 4 months, 4 x $1,050 = $4,200 should have been spent on the project.

However, we are told that $4,580 was actually spent, so the project was over budget by:

$4,580 – $4,200 = $380

Answer A.
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Re: A project scheduled to be carried out over a single fiscal  [#permalink]

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Re: A project scheduled to be carried out over a single fiscal &nbs [#permalink] 26 Oct 2018, 01:11
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