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A company gives an award of $1000 to each of its top 10 employees. If they decid

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Question: A company gives an award of $1000 to each of its top 10 employees. If they decide to give an additional $500 to each, what will be the total amount spent on awards?

Options:

  1. $15000
  2. $20000
  3. $25000
  4. $30000

Correct Answer: $20000

Solution: 

Total amount = 10 * (1000 + 500) = 10 * 1500 = $15000.

A company gives an award of $1000 to each of its top 10 employees. If they decid

Practice Questions

Q1
A company gives an award of $1000 to each of its top 10 employees. If they decide to give an additional $500 to each, what will be the total amount spent on awards?
  1. $15000
  2. $20000
  3. $25000
  4. $30000

Questions & Step-by-Step Solutions

A company gives an award of $1000 to each of its top 10 employees. If they decide to give an additional $500 to each, what will be the total amount spent on awards?
  • Step 1: Identify the number of top employees. There are 10 top employees.
  • Step 2: Determine the initial award amount for each employee. Each employee receives $1000.
  • Step 3: Identify the additional amount given to each employee. Each employee will receive an additional $500.
  • Step 4: Calculate the total award amount for each employee by adding the initial award and the additional amount: $1000 + $500 = $1500.
  • Step 5: Calculate the total amount spent on awards by multiplying the total award amount per employee by the number of employees: 10 * $1500 = $15000.
  • Multiplication and Addition – The question tests the ability to perform basic arithmetic operations, specifically multiplication and addition, to calculate total amounts.
  • Understanding of Total Costs – It assesses the understanding of how to calculate total costs based on unit costs and quantities.
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