A certain fishing boat is chartered by 6 people who are to contribute

[Brent@GMATPrepNow]

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

Answer: C
Source: Official guide

[Brent@GMATPrepNow]

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

Answer: C
Source: Official guide

$480/6 = $80. So, each of the 6 people must contribute $80 to the total charter cost.
$150/6 = $25. So, each of the 6 people contributes $25 to the $150 down payment.
Amount each person still owes $80 - $25 = $55.

Answer: C

Cheers,
Brent