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A student received an award for completing a project in 10 days. If he had compl

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Question: A student received an award for completing a project in 10 days. If he had completed it in 8 days, he would have received a bonus of $50. How much did he lose by not finishing in 8 days?

Options:

  1. $50
  2. $100
  3. $150
  4. $200

Correct Answer: $50

Solution: 

The student lost the bonus of $50 by not finishing in 8 days.

A student received an award for completing a project in 10 days. If he had compl

Practice Questions

Q1
A student received an award for completing a project in 10 days. If he had completed it in 8 days, he would have received a bonus of $50. How much did he lose by not finishing in 8 days?
  1. $50
  2. $100
  3. $150
  4. $200

Questions & Step-by-Step Solutions

A student received an award for completing a project in 10 days. If he had completed it in 8 days, he would have received a bonus of $50. How much did he lose by not finishing in 8 days?
  • Step 1: Understand that the student completed the project in 10 days.
  • Step 2: Know that if the student had completed the project in 8 days, he would have received a bonus of $50.
  • Step 3: Realize that by not finishing in 8 days, the student did not receive the bonus.
  • Step 4: Conclude that the amount the student lost is equal to the bonus he did not receive, which is $50.
  • Opportunity Cost – The concept of opportunity cost is tested here, as the student missed out on a bonus by not completing the project in a shorter time frame.
  • Time Management – The question indirectly assesses the student's understanding of time management and the implications of completing tasks in a timely manner.
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