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The members of an association decided to contribute equally to create

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Manager
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Joined: 13 Aug 2018
Posts: 55
The members of an association decided to contribute equally to create  [#permalink]

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New post 20 Nov 2019, 08:06
3
00:00
A
B
C
D
E

Difficulty:

  75% (hard)

Question Stats:

43% (03:00) correct 57% (02:47) wrong based on 23 sessions

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The members of an association decided to contribute equally to create a fund of $45000. Five members refused to contribute, so each of the other members had to contribute additional $15 for that fund. how many members were there in the association?

a) 120
b) 125
c) 130
d) 135
e) 150
Manager
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B
Joined: 24 Sep 2019
Posts: 78
Re: The members of an association decided to contribute equally to create  [#permalink]

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New post 20 Nov 2019, 11:51
Step 1: take the average contribution for each possible number of people (45,000/120, 125, 130, etc.) to get averages of:
$375, $360, $346.15, $333.33 $300
Since 5 people did not contribute, and the group paid an additional $15 per person, we need to find a $15 difference between 2 averages. Since A and B are $15 apart, and B's average is $15 less than A, the answer is B.
Intern
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B
Joined: 03 Nov 2019
Posts: 43
Re: The members of an association decided to contribute equally to create  [#permalink]

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New post 26 Nov 2019, 06:26
2
Let there be N members initially.
Amount to be paid by each member= Average= $ 45000/N
Amount to be paid by 5 members= 5* 45000/N
If 5 member out of N refused to contribute then the number of paying members reduced to (N-5)
And now each one have to pay additional $ 15; So additional amount paid by (N-5) members = (N-5)*15
And this amount is exactly equal to the amount the 5 members refused to contribute.
Therefore
5*45000/N=(N-5)*15
N(N-5)=15000
N(N-5)= 125*(125-5)
Therefore N=125
Answer B
GMAT Club Bot
Re: The members of an association decided to contribute equally to create   [#permalink] 26 Nov 2019, 06:26
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The members of an association decided to contribute equally to create

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