A large research project was scheduled over the course of a 28-month p

Question

A large research project was scheduled over the course of a 28-month period, and a budget of $84,000 was allotted for the course of the entire project. After seven months, the project had spent $19,800. Was the project at this point over budget or under budget, and by how much?

A. under, $4200
B. under, $1200
C. under, $700
D. over $1800
E. over $5800

Kudos for a correct solution.

A. under, $4200 
B. under, $1200 
C. under, $700 
D. over $1800 
E. over $5800

Kudos for a correct  solution .

iamdp · Answer

Hi

Allocated amount 84000 for 28 months ie 3000/month

Now used in 7 months = 19800 ie used 2828/month

Saving for these 7 months = 200 approx

Now for 7 month savings = 200*7=1400(greater than the answer because we took 200)

Therefore answer is 1200

mehrdadtaheri92 · Answer

Really easy one question, answer B ....

84,000 $ allocated to a 28-month period , so , an average amount of money for each month is : 84,000/28 = 3,000 per month

so , for a 7 month period it should spend 7 * 3000 $ =21,000 BUT the amount of money spent is 19,800 so, 21000 -19,800 =1,200 $ less than average amount spent

so, this is under budget and 1,200 $ under budget , so ANSWER :B

lipsi18 · Answer

For 28 months money allotted $84000; therefore 1 month money = 84000/28 = 3000
There for for 7 months money spent = 3000*7 = 21000; but actual money spent = 19800
Therefore project is  under  budget and savings = 21000-19800 = 1200
Therefore answer is (b) Under, $1200

peachfuzz · Answer

Assuming that the budget is divided evenly and that there are no months where more funds are allocated to, we would divide $84,000 by 28 months. We would then have a projected burn rate of $3,000. When that is multiplied by 7 months we get $21,000.

We have already spent $19,800 so we are $1,200 under budget.

Answer: B

adegrandchamp · Answer

Instead of messing with 28 and 84, I simplified the division to 7 and 21 - makes 3k/month much quicker to see.

PareshGmat · Answer

Answer = B. under, $1200

Ideal expenditure should be  = 84000 * \frac{7}{28} = 21000

Actual expenditure = 19800

Less = 1200

Bunuel · Answer

MAGOOSH OFFICIAL SOLUTION:

METHOD ONE:  The straightforward methodical Algebra Two approach (not terribly efficient)

First, figure out the cost of each month.
cost per month = 84,000/28 = 3,000.

Now, multiply by seven months: 7*($3000) = $21,000. That would be the budgeted amount, the amount theoretically supplied to the project. The real amount spent is less than this, so it is under budget.
$21,000 – #19,800 = $1200

Answer = (B)

METHOD TWO:  a slightly more efficient approach using ratios.

Notice that seven months is exactly 1/4 of 28-months. Therefore, after seven months, they should have spent 1/4 of the total budget.
seven month share = 84,000/4 = 21,000.

Again, this budgeted amount is more than what was spent, so what was spent was under budget.
$21,000 – #19,800 = $1200

Answer = (B)

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A large research project was scheduled over the course of a 28-month p

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