A regional cohesion fund allocates €120 million to three regions in proportion to their unemployment rates. Region X has an unemployment rate of 12%, Region Y has 8%, and Region Z has 4%. How much, in millions of euros, does Region X receive?
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Explanation
Step 1: Sum of unemployment rates: 12 + 8 + 4 = 24 Step 2: Region X's share of total: 12 ÷ 24 = 0.5 Step 3: Region X allocation: 0.5 × €120M = €60M