Question

An event management team raised a certain amount of money. Event managers were to receive a sponsorship from famous jeweler which was equal to 35% of total funds needed but he gave 20% less funds then what was promised. If event Management Company received Rs 79,800 then find average fund allocation if 5 events were to be conducted at same time.
1. Rs 54000
2. Rs 63000
3. Rs 57000
4. Rs 74000
5. Rs 38000

Answer 1

Correct Answer - Option 3 : Rs 57000

Given:

Sponsorship = 35% of total

Received = 20% less then what was presumed

Calculation:

Let total amount as sponsorship be X

⇒ Sponsorship received = 0.80 × X

⇒ 79800 = 0.80 × X

⇒ X = Rs 99750

Let, amount of total fund to be raised be Y

⇒ 99750 = 0.35 × Y

⇒ Y = Rs 285,000

Average fund to be divided among five events = 285000/ 5

∴ required answer is Rs 57000