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If an organization were to sell n tickets for a theater

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If an organization were to sell n tickets for a theater [#permalink] New post 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%
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Attain Moksha

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 [#permalink] New post 09 Feb 2004, 11:26
Ans: C 14%

N*P = R = 1.2*C

((0.95*N*P - C ) / C ) * 100% = 14%

Where
N = Number of tickets
P = Price per ticket.
R = Total Revenue.
C = Total cost.
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 [#permalink] New post 09 Feb 2004, 13:22
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
So
(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.
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 [#permalink] New post 09 Feb 2004, 13:59
14

Use numbers in % problems instead of setting equations and see how fast and easy you could solve them

here n=20
cost = 50
sale = 60

cost per ticket = 3

5% less of 20 = 19 * 3 (cost of each ticket = 57

57 is 14% of 50
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 [#permalink] New post 10 Feb 2004, 00:51
Let production cost = 100
No. of tickets = N (given)
So n tickets generated revenue = 120
So 95% of N generated revenue = 114.
Increase = 114 - 100 = 14%
Thats the easiest way to do this,i guess.
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 [#permalink] New post 28 May 2007, 19:31
mdfrahim wrote:
Let production cost = 100
No. of tickets = N (given)
So n tickets generated revenue = 120
So 95% of N generated revenue = 114.
Increase = 114 - 100 = 14%
Thats the easiest way to do this,i guess.


yea. no formulas to deal with.
  [#permalink] 28 May 2007, 19:31
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