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# Company K has an annual budget for a certain project, and 1/5 of this

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Manager
Joined: 06 Apr 2010
Posts: 134
Company K has an annual budget for a certain project, and 1/5 of this  [#permalink]

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Updated on: 22 Jul 2015, 01:49
1
4
00:00

Difficulty:

25% (medium)

Question Stats:

69% (00:48) correct 31% (01:02) wrong based on 223 sessions

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Company K has an annual budget for a certain project, and 1/5 of this budget was spent during the first quarter of the year. If 1/8 of the remainder of the budget was spent during the second quarter, what fraction of the budget was left at the end of the second quarter?

A. 7/10
B. 31/40
C. 27/40
D. 3/10
E. 9/40

Originally posted by udaymathapati on 23 Aug 2010, 08:47.
Last edited by Bunuel on 22 Jul 2015, 01:49, edited 1 time in total.
Renamed the topic and edited the question.
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Re: Company K has an annual budget for a certain project, and 1/5 of this  [#permalink]

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23 Aug 2010, 09:13
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udaymathapati wrote:
Company K has an annual budget for a certain project, and 1/5 of this budget was spent
during the first quarter of the year. If 1/8 of the remainder of the budget was spent during
the second quarter, what fraction of the budget was left at the end of the second quarter?
A. 7/10
B. 31/40
C. 27/40
D. 3/10
E. 9/40

First quarter spending - 1/5. Remaining budget - 4/5

Second quarter spending - 1/8 * remaining -- 1/8 * 4/5 = 1/10.

Hence total spending - 1/5 + 1/10 -- 3/10.

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Re: Company K has an annual budget for a certain project, and 1/5 of this  [#permalink]

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24 Jul 2015, 17:48
Hi All,

This question can be solved by TESTing VALUES.

Let's Set Company K's annual budget at \$100

First, we're told that 1/5 of this budget was spent during the first quarter...

(1/5)(\$100) = \$20 was spent in the first quarter

Next, we're told that 1/8 of the REMAINDER was spent during the second quarter...

\$100 - \$20 = \$80 remaining

(1/8)(\$80) = \$10 was spent in the second quarter

We're asked what fraction of the (total) budget was left AFTER the second quarter...

\$80 - \$10 = \$70 left

(\$70 left)/(\$100 total budget = 7/10

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Re: Company K has an annual budget for a certain project, and 1/5 of this  [#permalink]

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19 Aug 2015, 19:55
udaymathapati wrote:
Company K has an annual budget for a certain project, and 1/5 of this budget was spent during the first quarter of the year. If 1/8 of the remainder of the budget was spent during the second quarter, what fraction of the budget was left at the end of the second quarter?

A. 7/10
B. 31/40
C. 27/40
D. 3/10
E. 9/40

When 1/5 of budget was spent remaining is 4/5th of budget after 1st quarter. 1/8th of 4/5th was spent on second quarter meaning 7/8th of 4/5th of budget was left.
7/8 * 4/5 = 28/40=7/10

So (A) is correct
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Re: Company K has an annual budget for a certain project, and 1/5 of this  [#permalink]

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10 Sep 2017, 12:56
Hello from the GMAT Club BumpBot!

Thanks to another GMAT Club member, I have just discovered this valuable topic, yet it had no discussion for over a year. I am now bumping it up - doing my job. I think you may find it valuable (esp those replies with Kudos).

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Re: Company K has an annual budget for a certain project, and 1/5 of this &nbs [#permalink] 10 Sep 2017, 12:56
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