Question

The average amount of money held by each child in a group of 5 is $0.50. If one of the children loses a quarter, what is the new average of money held by each child

Answer 1

$0.45.

Explanation:

Total amount of money held by all 5 children

= 5 * 0.50 = $2.50.

After 0.25 is lost the total = $2.25.

So the new average = 2.25 / 5

= $0.45.