GMAT Question of the Day - Daily to your Mailbox; hard ones only

It is currently 24 May 2019, 22:11

Close

GMAT Club Daily Prep

Thank you for using the timer - this advanced tool can estimate your performance and suggest more practice questions. We have subscribed you to Daily Prep Questions via email.

Customized
for You

we will pick new questions that match your level based on your Timer History

Track
Your Progress

every week, we’ll send you an estimated GMAT score based on your performance

Practice
Pays

we will pick new questions that match your level based on your Timer History

Not interested in getting valuable practice questions and articles delivered to your email? No problem, unsubscribe here.

Close

Request Expert Reply

Confirm Cancel

If 15 people contributed a total of $20.00 toward a gift and each of

  new topic post reply Question banks Downloads My Bookmarks Reviews Important topics  
Author Message
TAGS:

Hide Tags

 
Math Expert
User avatar
V
Joined: 02 Sep 2009
Posts: 55271
If 15 people contributed a total of $20.00 toward a gift and each of  [#permalink]

Show Tags

New post 23 Nov 2015, 13:22
00:00
A
B
C
D
E

Difficulty:

  5% (low)

Question Stats:

87% (00:38) correct 13% (01:00) wrong based on 80 sessions

HideShow timer Statistics

Verbal Forum Moderator
User avatar
V
Status: Greatness begins beyond your comfort zone
Joined: 08 Dec 2013
Posts: 2292
Location: India
Concentration: General Management, Strategy
Schools: Kelley '20, ISB '19
GPA: 3.2
WE: Information Technology (Consulting)
GMAT ToolKit User Reviews Badge CAT Tests
Re: If 15 people contributed a total of $20.00 toward a gift and each of  [#permalink]

Show Tags

New post 23 Nov 2015, 19:51
To find the maximum possible amount any one person could have contributed , we need to minimise the
contributions of the remaining 14 people.
If 14 people contribute 1$ each ,
then contribution of the last guy = 20 - 14 = 6$

Answer D
_________________
When everything seems to be going against you, remember that the airplane takes off against the wind, not with it. - Henry Ford
The Moment You Think About Giving Up, Think Of The Reason Why You Held On So Long
+1 Kudos if you find this post helpful
Intern
Intern
avatar
Joined: 31 Jul 2015
Posts: 7
Re: If 15 people contributed a total of $20.00 toward a gift and each of  [#permalink]

Show Tags

New post 24 Nov 2015, 07:18
D for me
14 people with 1$ each -> maximum = 6
EMPOWERgmat Instructor
User avatar
V
Status: GMAT Assassin/Co-Founder
Affiliations: EMPOWERgmat
Joined: 19 Dec 2014
Posts: 14198
Location: United States (CA)
GMAT 1: 800 Q51 V49
GRE 1: Q170 V170
If 15 people contributed a total of $20.00 toward a gift and each of  [#permalink]

Show Tags

New post Updated on: 14 Mar 2018, 19:14
Hi All,

This is an example of a 'limit' question (wherein the question asks for a minimum or maximum value based on a series of restrictions).

Here, we're told that 15 people must each contribute AT LEAST $1 to a total of $20. We're asked for the MAXIMUM that could be contributed by any one person.

To start, we need to minimize 14 people so that the 15th person can be 'maximized.' The minimal amount for each person is $1, so those 14 people would have to contribute 14($1) = $14 at the minimum. Assuming that only the minimum was contributed, the 15th person would contribute all of the remaining money:

$20 - $14 = $6

Final Answer:

GMAT assassins aren't born, they're made,
Rich
_________________
760+: Learn What GMAT Assassins Do to Score at the Highest Levels
Contact Rich at: Rich.C@empowergmat.com

*****Select EMPOWERgmat Courses now include ALL 6 Official GMAC CATs!*****

Rich Cohen

Co-Founder & GMAT Assassin

Special Offer: Save $75 + GMAT Club Tests Free
  Official GMAT Exam Packs + 70 Pt. Improvement Guarantee
www.empowergmat.com/

Originally posted by EMPOWERgmatRichC on 25 Nov 2015, 00:45.
Last edited by EMPOWERgmatRichC on 14 Mar 2018, 19:14, edited 1 time in total.
Target Test Prep Representative
User avatar
D
Status: Founder & CEO
Affiliations: Target Test Prep
Joined: 14 Oct 2015
Posts: 6239
Location: United States (CA)
Re: If 15 people contributed a total of $20.00 toward a gift and each of  [#permalink]

Show Tags

New post 13 Mar 2018, 17:09
Bunuel wrote:
If 15 people contributed a total of $20.00 toward a gift and each of them contributed at least $1.00, then the maximum possible amount any one person could have contributed is

(A) $1.00
(B) $1.25
(C) $5.00
(D) $6.00
(E) $20.00


If 14 people contributed 1 dollar, then the remaining person would have had to contribute 6 dollars.

Answer: D
_________________

Scott Woodbury-Stewart

Founder and CEO

Scott@TargetTestPrep.com
TTP - Target Test Prep Logo
122 Reviews

5-star rated online GMAT quant
self study course

See why Target Test Prep is the top rated GMAT quant course on GMAT Club. Read Our Reviews

If you find one of my posts helpful, please take a moment to click on the "Kudos" button.

GMAT Club Bot
Re: If 15 people contributed a total of $20.00 toward a gift and each of   [#permalink] 13 Mar 2018, 17:09
Display posts from previous: Sort by

If 15 people contributed a total of $20.00 toward a gift and each of

  new topic post reply Question banks Downloads My Bookmarks Reviews Important topics  


Copyright

GMAT Club MBA Forum Home| About| Terms and Conditions and Privacy Policy| GMAT Club Rules| Contact| Sitemap

Powered by phpBB © phpBB Group | Emoji artwork provided by EmojiOne

Kindly note that the GMAT® test is a registered trademark of the Graduate Management Admission Council®, and this site has neither been reviewed nor endorsed by GMAC®.