Question

A group of friends decided to share the cost of a gift equally. If each person contributed Rs. 50, the amount would have been short by Rs. 20. However, if each person contributed Rs. 60, they would have Rs. 30 more than the required amount. What is the price of the gift?

• A. 450
• B. 270
• C. 200
• D. 540

Answer 1

The Correct Option is B

From the first scenario:
Total contribution = N \(\times\) 50
Equation: N \(\times\) 50 = P - 20
From the second scenario:
Total contribution = N \(\times\) 60
Equation: N \(\times\) 60 = P + 30
Subtracting the first equation from the second:
N \(\times\) 60 - N \(\times\) 50 = P + 30 - (P - 20)
10N = 50
N = 5
Substituting N = 5 in the first equation:
5 \(\times\) 50 = P - 20
250 = P - 20
P = 270