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From the monthly planned marketing budget of a company, only 80% .....

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e-GMAT Representative
Joined: 04 Jan 2015
Posts: 2897
From the monthly planned marketing budget of a company, only 80% .....  [#permalink]

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29 Nov 2018, 04:30
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Difficulty:

55% (hard)

Question Stats:

60% (02:24) correct 40% (03:18) wrong based on 56 sessions

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From the monthly planned marketing budget of a company, only 80% was utilized. From the allocated budget, for marketing, 50% was spent on advertisement, 40% of the remaining budget was spent on new business expansion and the remaining $3600 was spent on adhoc expenses. What was the total amount of planned monthly budget? A.$10,000
B. $12,000 C.$15,000
D. $17,500 E.$20,000

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Joined: 18 Jul 2018
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Location: India
Concentration: Finance, Marketing
WE: Engineering (Energy and Utilities)
Re: From the monthly planned marketing budget of a company, only 80% .....  [#permalink]

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29 Nov 2018, 06:13
Let the allocated budget be X.

40% of the remaining on new business expansion 0.5X*0.4 = 0.2X. Remaining is 0.3X = 3600 = X = 12,000.

Given that only 80% was utilized.
Utilized budget = 12,000.
Planned budget = 15,000.

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e-GMAT Representative
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Re: From the monthly planned marketing budget of a company, only 80% .....  [#permalink]

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03 Dec 2018, 02:06

Solution

Given:
• From the monthly planned marketing budget of a company, only 80% was utilized
• 40% of the remaining was spent on new business expansion
• Remaining $3600 was spent on ad-hoc expenses To find: • The amount of planned monthly budget Approach and Working: Let us assume that the monthly planned budget was 100x. Budget utilised = 80% of 100x = 80x • Spending on advertisement = 50% of 80x = 40x o Remaining budget = 80x – 40x = 40x • Spending on new business expansion = 40% of 40x = 16x o Remaining budget = 40x – 16x = 24x Given that, 24x = 3600 Or, x = $$\frac{3600}{24} = 150$$ Therefore, the total planned budget = 100x = 100 x 150 =$15,000

Hence, the correct answer is option C.

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Re: From the monthly planned marketing budget of a company, only 80% .....   [#permalink] 03 Dec 2018, 02:06
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