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Question 1121726: An association of insurance agents helps children from low-income homes at a primary school by paying each child's school fees of $10 per month, giving each child $2 in pocket money a day and paying the fees for two enrichment programmes costing between $35 and $70 each a year. The principle of the school estimates that 30% of 680 pupils in her school come from needy families where the families net income per month is not more than $530 for one- or-two-child families or $625 for families with three or more children.
a)Estimate the maximum amount the programme will cost the association a year, given that school fees are payable for 12 months in a year and each child gets the daily pocket money only for 40 5-day weeks.
b)The Chan family has a net income of $520 per month. They have two children studying in this particular primary school. Express the amount the family receives from the association as a percentage of the family's annual net income, given that each enrichment programme costs $50 for each child and that the children attend 2 enrichment programmes each.
Answer by Theo(13342)   (Show Source):
You can put this solution on YOUR website! school fees for each student are 10 dollars a month * 12 months = 120 dollars a year.
pocket money for each student are 2 dollars a day for 40 * 5 = 200 days a year = 400 dollars a year.
two enrichment programs for each student that cost between 35 and 70 dollars each per year will cost between 70 and 140 dollars a year.
maximum cost for the year for each student that receives assistance is 120 + 400 + 140 = 660 a year.
30% of 680 students = 204 students that require assistance.
maximum costs for all 204 students would then be equal to 204 * 660 = 134,640 a year.
chan family net income is 520 a month which is less than 530 a month, so they are eligible for assistance for their 2 children.
school fees for the 2 children will be 120 * 2 = 240 a year.
pocket money for the 2 children will be 400 * 2 = 800 a year.
enrichment program money for the 2 children will be 2 * 2 * 50 = 200 a year.
total money the chan family receives is 1240 a year.
chan family net income is 520 a month * 12 = 6240 a year.
percent of the chan family's net income that they receive in assistance each year is 1240 / 6240 * 100% = 19.87179487% which can be rounded to 19.87% a year.
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