A prize of $1200 is to be distributed among 40 winners, each of whom must be awarded at least $40. If 2/5 of the prize will be distributed to 3/5 of the winners, what is the greatest possible individual award?	Choose the correct choice from the following choices:
A) $100 B) $120 C) $280 D) $300 E) $360
Total value of the prize =$1200   Number of people = 40   2/5 of 1200 (=$480) should be distributed among 3/5 of 40 (=24 people ) with each getting $40 each. Remaining money = 1200-480= 
<gadget id="calculator">1200-480</gadget>
<output>720</output>
$720. Now in order to 'maximize' 1 prize, we need to minimise the others and we have been given that each should get $40. Thus, minimising the remaining 15 people (=40-24-1. '-1' to exclude 1 that needs to be maximised) = 15*40= 
<gadget id="calculator">15*40</gadget>
<output>600</output>
600.   Thus the maximum award can be= 720-600= 
<gadget id="calculator">720-600</gadget>
<output>120</output>
$120, hence $120 is the correct answer.
<result>B</result>
A prize of $1200 is to be distributed among 40 winners, each of whom must be awarded at least $40. If 2/5 of the prize will be distributed to 3/5 of the winners, what is the greatest possible individual award?