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# The financial aid office of a certain college has agreed to provide

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Director
Joined: 08 Jun 2013
Posts: 514
Location: India
GMAT 1: 200 Q1 V1
GPA: 3.82
WE: Engineering (Other)
The financial aid office of a certain college has agreed to provide  [#permalink]

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29 Sep 2018, 02:19
1
00:00

Difficulty:

25% (medium)

Question Stats:

90% (01:40) correct 10% (02:25) wrong based on 31 sessions

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The financial aid office of a certain college has agreed to provide a $9,000 grant to every student whose total family income (not including the grant) is$22,500 or less. However, for every $40 in family income above this figure, the grant is reduced by$10. If Cedric's award is reduced 40%, what is his family income?

A) $26,100 B)$27,000
C) $31,500 D)$36,900
E) $44,100 _________________ It seems Kudos button not working correctly with all my posts... Please check if it is working with this post...... is it?.... Anyways...Thanks for trying Manager Joined: 14 Jun 2018 Posts: 210 Re: The financial aid office of a certain college has agreed to provide [#permalink] ### Show Tags 29 Sep 2018, 10:04 Cedric's award is reduced 40% = 9000*.4 = 3600 For every 40$ above , 10$is reduced. Therefore , his family income was 22500 + (3600*40) = 36900 Intern Joined: 04 Oct 2017 Posts: 10 Re: The financial aid office of a certain college has agreed to provide [#permalink] ### Show Tags 01 Oct 2018, 03:44 pandeyashwin wrote: Cedric's award is reduced 40% = 9000*.4 = 3600 For every 40$ above , 10$is reduced. Therefore , his family income was 22500 + (3600*40) = 36900 it should be 22500 + (3600*40/10) = 36900 Intern Joined: 31 Dec 2017 Posts: 28 Concentration: Finance The financial aid office of a certain college has agreed to provide [#permalink] ### Show Tags 01 Oct 2018, 04:30 Harshgmat wrote: The financial aid office of a certain college has agreed to provide a$9,000 grant to every student whose total family income (not including the grant) is $22,500 or less. However, for every$40 in family income above this figure, the grant is reduced by $10. If Cedric's award is reduced 40%, what is his family income? A)$26,100
B) $27,000 C)$31,500
D) $36,900 E)$ 44,100

Cedric's award = $$60/100(9000) = 5,400$$.

For every $$40$$ higher than $$22,500$$ the grant gets reduced by $$10$$: here the grant got reduced by $$3,600$$, i.e., $$3600/10 = 360$$ times, by $$40$$. So, the family income must be $$22,500 + (360*40) = 36,900$$. Ans - D.
The financial aid office of a certain college has agreed to provide &nbs [#permalink] 01 Oct 2018, 04:30
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