A prize of $800 is to be distributed among 20 winners, each of whom must be awarded at least $20. If 2/5 of the prize will be distributed to 3/5 of the winners, what is the greatest possible individual award?
Choices:
A) $ 200
B) $ 220
C) $ 280
D) $ 300
E) $ 340

Rationale: "total value of the prize = $ 800 number of people = 20 2 / 5 of 800 ( = $ 320 ) should be distributed among 3 / 5 of 20 ( = 12 people ) with each getting $ 20 each . remaining money = 800 - 320 = $ 480 . now in order to ' maximize ' 1 prize , we need to minimise the others and we have been given that each should get $ 20 . thus , minimising the remaining 7 people ( = 20 - 12 - 1 . ' - 1 ' to exclude 1 that needs to be maximised ) = 7 * 20 = 140 . thus the maximum award can be = 480 - 140 = $ 340 , hence e is the correct answer ."
Answer: E