Problem Solving

These sample questions have been taken from the old GMAT question papers.

Answer each question yourself before reading the analysis that follows each question.



A group of associates needed to invest $80,000 each in order to purchase a certain resort. After an additional associate joined the group, the amount that each associate, including the new one, needed to invest was $ 60,000. How much money did the group need to invest in order to purchase the resort?

(A) $140,000

(B) $180,000

(C) $200,000

(D) $240,000

(E) $320,000


If the number of associates was N, then it follows that 80,000N = 60,000(N+1).

80,000N = 60,000N + 60,000

20,000N =60,000


The amount needed to buy the resort was therefore 3*80,000=240,000

So, (D) is the answer.

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