If there was no insurance he would lose 1250
insurance reimbursed (1250-350)*3/4 = 900 *3/4 = 225*3 = 675
combined amount paid in insurance 125*3 =375
not reimbursed
1250 - 675 = 575
total actual loss (375+575)= 950
hence difference = 1250 - 950 = 300
ps4
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Source: Beat The GMAT — Problem Solving |
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cubicle_bound_misfit
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Morgoth
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Why did you calculated only for 3 quarters. I think it should 4.cubicle_bound_misfit wrote: combined amount paid in insurance 125*3 =375
hence difference = 1250 - 950 = 300
125*4 = 500
1250 - 350 = 900 * 3/4 = 675
1250 - 675 = 575
575 + 500 = 1075
1250 - 1075 = 175
OA?
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cramya
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I think the answer is 350 D)
Amt paid in theft insurance = 125 * 4 = 500
75 % of amt above 1250 covered i.e 75% of 900 = 675 covered
Amount not covered by insurance = 1250 - 675 = 525
Amt paid in theft insurance + Amount not covered by insurance - amt above 1250 covered(which is the amount he would have lost since this was what was covered)
= 500 + 525 - 675 = 350
Amt paid in theft insurance = 125 * 4 = 500
75 % of amt above 1250 covered i.e 75% of 900 = 675 covered
Amount not covered by insurance = 1250 - 675 = 525
Amt paid in theft insurance + Amount not covered by insurance - amt above 1250 covered(which is the amount he would have lost since this was what was covered)
= 500 + 525 - 675 = 350
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cramya
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I misunderstood the question I think. I think it is 175
But here's how we could get it.
Amt paid in theft insurance = 125 * 4 = 500
75 % of amt above 1250 covered i.e 75% of 900 = 675 covered
Amount not covered by insurance = 1250 - 675 = 575
Total amount not covered by insurance is 575 +350(no insurance coverage for this) = 925
So Amt paid in theft insurance + Total amount not covered by insurance -
Amt he would have lost if there was no insurance
= 500 + 925 - 1250
= 1425 - 1250
= 175 $
This was a good one!!!
But here's how we could get it.
Amt paid in theft insurance = 125 * 4 = 500
75 % of amt above 1250 covered i.e 75% of 900 = 675 covered
Amount not covered by insurance = 1250 - 675 = 575
Total amount not covered by insurance is 575 +350(no insurance coverage for this) = 925
So Amt paid in theft insurance + Total amount not covered by insurance -
Amt he would have lost if there was no insurance
= 500 + 925 - 1250
= 1425 - 1250
= 175 $
This was a good one!!!
