ABC company pays an average of $140 per vehicle each month in outdoor parking fees for three of its eight vehicles...

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BTGmoderatorLU: Moderator; Posts: 2607; Joined: Sun Oct 15, 2017 1:50 pmFollowed by: 6 members

by BTGmoderatorLU » Fri Dec 11, 2020 9:52 am

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Source: GMAT Paper Tests

ABC company pays an average of $140 per vehicle each month in outdoor parking fees for three of its eight vehicles. The company pays garage parking fees for the remaining five vehicles. If ABC pays an average of $240 per vehicle overall each month for parking, how much does ABC pay per month in garage parking fees for its vehicles?

A. 300
B. 420
C. 912
D. 1420
E. 1500

The OA is E

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Source: Beat The GMAT — Problem Solving | Fri Dec 11, 2020 9:52 am

deloitte247: Legendary Member; Posts: 2214; Joined: Fri Mar 02, 2018 2:22 pmFollowed by: 5 members

Re: ABC company pays an average of $140 per vehicle each month in outdoor parking fees for three of its eight vehicles..

by deloitte247 » Sun Dec 13, 2020 5:42 am

Outdoor parking fee = $140 per vehicle
So for 3 out of 8 vehicles = 140 * 3 = 420
ABC company pays garage parking fees for the remaining 5 vehicles
On overall parking ( both outdoor parking and garage parking ) ABC pays an average of $240 per vehicle each month
Total parking fee = $240 * 8 =$1920
Amount spent on garage parking = 1920 - 420 = 1500

Answer = E

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Re: ABC company pays an average of $140 per vehicle each month in outdoor parking fees for three of its eight vehicles..

by Scott@TargetTestPrep » Mon Dec 14, 2020 7:23 am

BTGmoderatorLU wrote: ↑
Fri Dec 11, 2020 9:52 am
Source: GMAT Paper Tests

ABC company pays an average of $140 per vehicle each month in outdoor parking fees for three of its eight vehicles. The company pays garage parking fees for the remaining five vehicles. If ABC pays an average of $240 per vehicle overall each month for parking, how much does ABC pay per month in garage parking fees for its vehicles?

A. 300
B. 420
C. 912
D. 1420
E. 1500

The OA is E

Solution:

Let A = the total amount of money ABC pays per month for its 5 vehicles that park in the garage. We can create a weighted average equation:

(140 x 3 + A)/8 = 240

420 + A = 1920

A = 1500

Answer: E

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