A project scheduled to be carried out over a single fiscal

Question

A project scheduled to be carried out over a single fiscal year has a budget of $12,600, divided into12 equal monthly allocations. At the end of the fourth month of that fiscal year, the total amount actually spent on the project was $4,580. By how much was the project over its budget?

(A) $380
(B) $540
(C) $1,050
(D) $1,380
(E) $1,430

(A) $380
(B) $540
(C) $1,050
(D) $1,380
(E) $1,430

Bunuel · Answer

SOLUTION

A project scheduled to be carried out over a single fiscal year has a budget of $12,600, divided into12 equal monthly allocations. At the end of the fourth month of that fiscal year, the total amount actually spent on the project was $4,580. By how much was the project over its budget?

(A) $380
(B) $540
(C) $1,050
(D) $1,380
(E) $1,430

(A) $380
(B) $540
(C) $1,050
(D) $1,380
(E) $1,430

The budget for 4 months was  \frac{$12,600}{12}*4=$4,200 . Thus, the project was  $4,580-$4,200=$380  over budget for the first 4 months.

Answer: A.

cyberjadugar · Answer

Hi,

Difficulty level: 600

Each month's budget = 12600/12 = 1050
Budget for 4 months = 4*1050 = 4200
Actual amount spent = 4580
Amount spent over the budget = 4580 - 4200 = 380

Answer (A),

Regards,

MacFauz · Answer

I get worried if i get the answer quickly and end up working the question out a second time eventually ending in taking up as much time as i would have had the question been a tough one.

kanusha · Answer

My thinking : It's total amt planned for year and how differed in Action
Principles : Basic Operations
Total amt for the financial year is 12,600 , for each month amount is 1050
Spent amt for 4months is 4580 instead 4200 mean ,spent over 380 more
A. :-D

PareshGmat · Answer

Difference =

4580 - \frac{12600}{12} * 4

= 380

Dienekes · Answer

Although this is a fairly simple question with easy calculations, but one alternative technique that can be applied is approximations, esp. on similar questions with complex calculations.
12600/12 ~= 1000 so 4 months ~= 4000, hence over budget ~= 580, i.e. 4580 - 4000, thus eliminating C, D and E. Now the approximation that we did was >$40, thus the answer must be (A) $380.

ScottTargetTestPrep · Answer

We know that our yearly budget must be divided into 12 EQUAL monthly allocations, so we need to divide $12,600 by 12. This will give us the amount of each monthly allocation. We have:

$12,600/12 = $1,050

Thus, $1,050 should be spent PER MONTH on the project. Therefore, after 4 months, 4 x $1,050 = $4,200 should have been spent on the project.

However, we are told that $4,580 was actually spent, so the project was over budget by:

$4,580 – $4,200 = $380

Answer A.

philipssonicare · Answer

Source: OG
Source: 800 Score

Do 800 Score take questions from the OG?

nktkobby808 · Answer

Total budget = $12,600
Equal monthly allocations = 12
Hence, allocation per month = 12600/12 = 1050
Actual amount spent = 4580
Budget for 4 months = 4*1050 = 4200
Difference = Budget - Actually spent = 4580 - 4200 = $380

Correct Answer = A

bumpbot · Answer

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A project scheduled to be carried out over a single fiscal

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A project scheduled to be carried out over a single fiscal

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