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If an organization were to sell n tickets for a theater [#permalink]
09 Feb 2004, 11:09
If an organization were to sell n tickets for a theater production, the total revenue from ticket sales would be 20 percent greater than the total costs of the production. If the organization actually sold all but 5 percent of the n tickets, the total revenue from ticket sales was what percent greater than the total costs of the production?
(A) 4% (B) 10% (C) 14%
(D) 15% (E) 18% _________________
N be no of tickets sold and X be the price per ticket. C be the cost of production. Since revenue is 20% more than C we have
N*X = C + 20/100 * C = 1.2C
Now we have N * 5/100 less tickets sold
(N-N*5/100) X = y
NX - 5NX/100 = y = 1.2C - 0.06C = 1.14C = C + 14/100 * C
so 14% is the answer.