Question

Mr. Smith signed a one-year rental agreement with Reynolds Realtors for warehouse space. He was required to pay $3,400 for rent for the months of January 1, 2018, to December 31, 2018. What is the monthly rent amount?

A) $400
B) $340
C) $300
D) $3400
E) $170

Answer 1

Answer: $300 or C

Explanation:

To solve this, you start off with background knowledge knowing that 1 year is equal to 12 months. With that in mind, you can then divide the amount he paid during the entire rent (He made an agreement and it didn't mention him fully paying it off as he stopped before the January 1st of 2019 so you can imply he only paid 11 months) by 11 months. This being 3400/11