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

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Math Expert
Joined: 02 Sep 2009
Posts: 50627
A project scheduled to be carried out over a single fiscal  [#permalink]

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23 Jul 2012, 03:16
2
4
00:00

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 Practice Questions Question: 1 Page: 152 Difficulty: 550 _________________ Math Expert Joined: 02 Sep 2009 Posts: 50627 Re: A project scheduled to be carried out over a single fiscal [#permalink] ### Show Tags 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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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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Math Expert
Joined: 02 Sep 2009
Posts: 50627
Re: A project scheduled to be carried out over a single fiscal  [#permalink]

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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. _________________ VP Joined: 02 Jul 2012 Posts: 1181 Location: India Concentration: Strategy GMAT 1: 740 Q49 V42 GPA: 3.8 WE: Engineering (Energy and Utilities) Re: A project scheduled to be carried out over a single fiscal [#permalink] ### Show Tags 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. _________________ Did you find this post helpful?... Please let me know through the Kudos button. Thanks To The Almighty - My GMAT Debrief GMAT Reading Comprehension: 7 Most Common Passage Types Manager Joined: 25 Mar 2013 Posts: 245 Location: United States Concentration: Entrepreneurship, Marketing GPA: 3.5 Re: A project scheduled to be carried out over a single fiscal [#permalink] ### Show Tags 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. _________________ I welcome analysis on my posts and kudo +1 if helpful. It helps me to improve my craft.Thank you SVP Status: The Best Or Nothing Joined: 27 Dec 2012 Posts: 1826 Location: India Concentration: General Management, Technology WE: Information Technology (Computer Software) Re: A project scheduled to be carried out over a single fiscal [#permalink] ### Show Tags 02 Jul 2014, 01:44 Difference = $$4580 - \frac{12600}{12} * 4$$ = 380 _________________ Kindly press "+1 Kudos" to appreciate Manager Joined: 12 Feb 2011 Posts: 87 Re: A project scheduled to be carried out over a single fiscal [#permalink] ### Show Tags 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. Target Test Prep Representative Status: Founder & CEO Affiliations: Target Test Prep Joined: 14 Oct 2015 Posts: 4170 Location: United States (CA) Re: A project scheduled to be carried out over a single fiscal [#permalink] ### Show Tags 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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26 Oct 2018, 01:11
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# A project scheduled to be carried out over a single fiscal

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