A certain fishing boat is chartered by 6 people who are to contribute equally to the total charter cost of $480. If each person contributes equally to a $150 down payment, how much of the charter cost will each person still owe?
A. $80
B. $66
C. $55
D. $50
E. $45
The OA is C
Source: Official Guide
Word problems
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Solution:swerve wrote: ↑Wed Oct 28, 2020 11:33 amA certain fishing boat is chartered by 6 people who are to contribute equally to the total charter cost of $480. If each person contributes equally to a $150 down payment, how much of the charter cost will each person still owe?
A. $80
B. $66
C. $55
D. $50
E. $45
The OA is C
Source: Official Guide
Since each of the 6 people has to contribute equally to the total charter cost of $480, each needs to contribute $480/6 = $80.
Since each of the 6 people contributes equally to a $150 down payment, each contributes $150/6 = $25 to the down payment.
Thus, each person still owes $80 - $25 = $55.
Answer: C
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