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Last year, Christine received 12 monthly paychecks. Each of the first

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Last year, Christine received 12 monthly paychecks. Each of the first  [#permalink]

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New post 27 Mar 2017, 02:26
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Last year, Christine received 12 monthly paychecks. Each of the first four months’ paychecks was for $4500, and each of the remaining months’ paychecks was for $4800. What was her average paycheck for the year?

A. $4600
B. $4650
C. $4700
D. $4750
E. $4800

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Last year, Christine received 12 monthly paychecks. Each of the first  [#permalink]

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New post Updated on: 15 Apr 2018, 15:22
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Bunuel wrote:
Last year, Christine received 12 monthly paychecks. Each of the first four months’ paychecks was for $4500, and each of the remaining months’ paychecks was for $4800. What was her average paycheck for the year?

A. $4600
B. $4650
C. $4700
D. $4750
E. $4800


One approach:
Total pay = 4($4500) + 8($4800)
= $56,400

So, average of all 12 paychecks = $56,400/12 = $4700

Answer:

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Originally posted by GMATPrepNow on 27 Mar 2017, 07:20.
Last edited by GMATPrepNow on 15 Apr 2018, 15:22, edited 1 time in total.
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Re: Last year, Christine received 12 monthly paychecks. Each of the first  [#permalink]

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New post 27 Mar 2017, 07:25
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Bunuel wrote:
Last year, Christine received 12 monthly paychecks. Each of the first four months’ paychecks was for $4500, and each of the remaining months’ paychecks was for $4800. What was her average paycheck for the year?

A. $4600
B. $4650
C. $4700
D. $4750
E. $4800



Another approach is to use weighted averages.

Weighted average of groups combined = (group A proportion)(group A average) + (group B proportion)(group B average) + (group C proportion)(group C average) + ...

In this question, the proportion of $4500 paychecks = 4/12 = 1/3
And the proportion of $4800 paychecks = 8/12 = 2/3

Plugging these values into the formula, we get: average paycheck = (1/3)($4500) + (2/3)($4800)
= $1500 + $3200
= $4700

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Re: Last year, Christine received 12 monthly paychecks. Each of the first  [#permalink]

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New post 27 Mar 2017, 10:01
Bunuel wrote:
Last year, Christine received 12 monthly paychecks. Each of the first four months’ paychecks was for $4500, and each of the remaining months’ paychecks was for $4800. What was her average paycheck for the year?

A. $4600
B. $4650
C. $4700
D. $4750
E. $4800


\(Average = \frac{4500*4 + 8*4800}{12}\)

\(Average = \frac{100*4 (45 + 2*48)}{12}\)

\(Average = \frac{100*(45 + 2*48)}{3}\)

\(Average = \frac{100*141}{3}\)

\(Average = 100*47\)

Thus, average must be $ 4700, correct answer must be (C) $4700
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Re: Last year, Christine received 12 monthly paychecks. Each of the first  [#permalink]

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New post 27 Mar 2017, 12:12
This one is ridiculously easy

4(4500) + 8(4800)/12
(18000 + 38400)/12
56400/12
4700

Answer is C
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Re: Last year, Christine received 12 monthly paychecks. Each of the first  [#permalink]

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New post 17 Apr 2018, 15:28
Bunuel wrote:
Last year, Christine received 12 monthly paychecks. Each of the first four months’ paychecks was for $4500, and each of the remaining months’ paychecks was for $4800. What was her average paycheck for the year?

A. $4600
B. $4650
C. $4700
D. $4750
E. $4800


We can create a weighted average equation:

(4 x 4500 + 8 x 4800)/12 = (18,000 + 38,400)/12 = 4,700

Answer: C
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Re: Last year, Christine received 12 monthly paychecks. Each of the first &nbs [#permalink] 17 Apr 2018, 15:28
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