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E
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Difficulty:
75%
(hard)
Question Stats:
46% (02:07) correct
54%
(02:08)
wrong
based on 68
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In one year, 600 academic awards were given at a university, either plaques or cash awards. What was the average amount of the cash awards that were greater than $500?
(1) Four-fifths of the awards were plaques, and the total amount awarded in cash was $40,800.
(2) The 25 largest cash awards averaged $720, and the remaining cash awards averaged $240.
(1) Four-fifths of the awards were plaques, and the total amount awarded in cash was $40,800.
(2) The 25 largest cash awards averaged $720, and the remaining cash awards averaged $240.
03 Mar 2026, 10:55
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kevincan
600 awards were divided into Plaques and cash awards.
But, the question asks about Average cash awards GREATER THAN $500 ?
To calculate it we need the value of cash awards greater than $500, and the number of cash awards that’s greater than $500.
Statement 1:
Four-fifths of the awards were plaques, and the total amount awarded in cash was $36,000.
plaques = (4/5)*600 = 480
cash awards = 120
This statement gives the total average of cash awards. But, we need to find the subset within cash awards, value greater than $500. Hence, Insufficient.
Statement 2:
The 25 largest cash awards averaged $720, and the remaining cash awards averaged $240.
Whats the total number of cash awards. Which is unknown. Hence, Insufficient
Combining both, we get
120 cash awards in total. Out of which 25 cash awards averaged $720.
And the remaining, 95 cash awards averaged $240.
This also gives the total average of cash awards.
But, fails to provide the average cash awards Greater than $500. Hence, Insufficient
Option E.
03 Mar 2026, 11:53
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I have corrected the question to correct the inconsistency. Now the question is valid.
