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John, Steve, and Mary are buying a car with a list price of $24,000.

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John, Steve, and Mary are buying a car with a list price of $24,000. [#permalink]

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John, Steve, and Mary are buying a car with a list price of $24,000. John contributes three times as much as Steve, who contributes half as much as Mary. At the dealership, the trio buys the car and receives a 15% rebate. If they split the rebate funds proportional to each person's initial investment, how much more money does John receive back compared to Mary?

A. $400
B. $600
C. $1,200
D. $1,800
E. $3,600
[Reveal] Spoiler: OA

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Re: John, Steve, and Mary are buying a car with a list price of $24,000. [#permalink]

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New post 30 Nov 2016, 10:52
John : 3x Steve : x
Since Steve contributes half as much as mary
Mary : 2x

Ratio of investments(John - Steve - Mary = 3:1:2)

Also, total rebate received is 0.15*24000(3600)
John has one part more than Mary (i.e.)
1/6 * 3600 = 600(Option B)

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Re: John, Steve, and Mary are buying a car with a list price of $24,000. [#permalink]

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New post 28 Nov 2017, 13:05
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Hi All,

We're told that John, Steve, and Mary are joining up to buy a car with a list price of $24,000 and receives a 15% rebate. John contributes three times as much as Steve, who contributes half as much as Mary. They split the rebate funds proportional to each person's initial investment. We're asked how much MORE money does John receive back than Mary.

To start, we need to determine what fraction of the purchase price each person contributed. It might help to TEST VALUES to determine those fractions.

Since John contributed THREE TIMES as much as Steve....
For every $1 that Steve contributes....
John contributes $3.

We also know that Steve contributed HALF as much as Mary...
For every $1 that Steve contributes....
Mary contributes $2.

Thus, for every $6 contributed, John gave $3, Steve gave $1 and Mary gave $2.....
John gives $3/$6 = 1/2 of the money
Steve gives $1/$6 = 1/6 of the money
Mary gives $2/$6 = 1/3 of the money

Since the rebate is 15% of the $24,000, the rebate is (.15)($24,000) = $3600
John receives (1/2)($3600) = $1800
Mary receives (1/3)($3600) = $1200
The difference is $1800 - $1200 = $600

Final Answer:
[Reveal] Spoiler:
B


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Re: John, Steve, and Mary are buying a car with a list price of $24,000.   [#permalink] 28 Nov 2017, 13:05
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