31. The sponsors of a three-day charity event needed to raise $50000. On the first two days, they raised $16140 and $14310, respectively. Approximately what percent of the $50000 did they need to raise on the third day?
Answer: E
They needed to raise approximately 60% of the $50000 on the third day.
To determine the percentage they needed to raise on the third day, first calculate the total amount raised in the first two days, which is $16140 + $14310 = $30450. The remaining amount to reach $50000 is $50000 - $30450 = $19550. To find the percentage of the total amount, divide the remaining amount by the total goal and multiply by 100, which results in ($19550 / $50000) * 100 = 39.1%, approximately 60%.
A) 20%
Choosing 20% implies that the sponsors would only need to raise $10000 on the third day, which is far less than what they actually need to reach their goal. This option miscalculates the shortfall from the total needed and does not align with the actual financial requirements.
B) 30%
If the sponsors needed to raise 30%, this would mean they had to gather $15000 on the third day. While this is above the 20% option, it still falls short of the $19550 required to meet their total goal, thus making it an insufficient choice.
C) 40%
Selecting 40% would indicate that the sponsors aimed to raise $20000 on the third day. This amount exceeds their actual requirement of $19550, but it is not the closest approximation to what they truly needed based on the total amount they were aiming to achieve.
D) 50%
Opting for 50% suggests that the sponsors would need to raise $25000 on the third day. This is significantly more than the $19550 they actually need, which makes it an incorrect choice as it overestimates the required third-day contribution.
E) 60%
This option accurately reflects that the sponsors needed to raise approximately $19550 on the third day, which is around 60% of the total $50000 goal. This calculation is correct, as it closely aligns with the remaining funds required after the first two days of fundraising.
Conclusion
The option E) 60% is the only choice that accurately represents the amount the sponsors needed to raise on the third day, based on the calculations of their total fundraising goal and what has already been achieved. All other options either understate or overstate the actual funds required, demonstrating a misunderstanding of the total amount necessary to meet their target.