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Hussain15
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Concentration: Strategy, General Management
Schools: Stanford '14 (D) Booth '14 (D) Johnson '14 (D)
GMAT 1: 680 Q48 V34
Schools: Stanford '14 (D) Booth '14 (D) Johnson '14 (D)
GMAT 1: 680 Q48 V34
Posts: 1,075
Kudos:
3,541
31 Jan 2010, 05:55
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Be sure to select an answer first to save it in the Error Log before revealing the correct answer (OA)!
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A radio station is giving away a total of $124,000 in August. If they increase the amount given away each day by $100, how much should they give away the first day?
A. $ 2,300
B. $ 2,700
C. $ 2,900
D. $ 2,500
E. $ 3,500
A. $ 2,300
B. $ 2,700
C. $ 2,900
D. $ 2,500
E. $ 3,500
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31 Jan 2010, 08:16
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Hussain15
D- 2500
let amount given on 1st day be $x then on 2nd day it will be $(x + 100), 3rd day it will be $(x+200) and so on
adding all this we will get 31x + 100(1+2+3....+30) = 124000
31x + 46500 = 124000
x=2500
31 Jan 2010, 08:55
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Hussain15
The values are equally spaced, so the average equals the median. The average giveaway was 124,000/31 = $4000. Since this must also be the median, $4000 was given away on August 16, and fifteen days earlier, $1500 less must have been given away, so the answer is $2500.
