Find all School-related info fast with the new School-Specific MBA Forum

It is currently 12 Jul 2014, 07:02

Close

GMAT Club Daily Prep

Thank you for using the timer - this advanced tool can estimate your performance and suggest more practice questions. We have subscribed you to Daily Prep Questions via email.

Customized
for You

we will pick new questions that match your level based on your Timer History

Track
Your Progress

every week, we’ll send you an estimated GMAT score based on your performance

Practice
Pays

we will pick new questions that match your level based on your Timer History

Not interested in getting valuable practice questions and articles delivered to your email? No problem, unsubscribe here.

Events & Promotions

Events & Promotions in June
Open Detailed Calendar

If the circus were to sell all of its 220 tickets for this

  Question banks Downloads My Bookmarks Reviews Important topics  
Author Message
TAGS:
Intern
Intern
User avatar
Joined: 03 Mar 2010
Posts: 40
Followers: 1

Kudos [?]: 9 [0], given: 1

If the circus were to sell all of its 220 tickets for this [#permalink] New post 29 Jul 2010, 12:41
1
This post was
BOOKMARKED
00:00
A
B
C
D
E

Difficulty:

  55% (medium)

Question Stats:

56% (03:22) correct 43% (02:59) wrong based on 66 sessions
If the circus were to sell all of its 220 tickets for this month's performance at its usual price, the revenue from sales would be 10% greater than that collected last month. If the circus raised the ticket price by 5% and sold only 200 tickets as a result, what percent less would last month's revenue be compared to this month's revenue?

2
5
100/21
110/20
9/4

OPEN DISCUSSION OF THIS QUESTION IS HERE: if-the-circus-were-to-sell-all-of-its-220-tickets-for-this-126466.html
[Reveal] Spoiler: OA

_________________

Hardworkingly, you like my post, so kudos me.

Kaplan GMAT Prep Discount CodesKnewton GMAT Discount CodesGMAT Pill GMAT Discount Codes
2 KUDOS received
Ms. Big Fat Panda
Ms. Big Fat Panda
User avatar
Status: Biting Nails Into Oblivion
Joined: 09 Jun 2010
Posts: 1855
Followers: 329

Kudos [?]: 1331 [2] , given: 194

GMAT ToolKit User GMAT Tests User
Re: If the circus were to sell all of its 220 tickets for this [#permalink] New post 29 Jul 2010, 13:42
2
This post received
KUDOS
Let us assume that the price per ticket is x for this month. So total revenue = 220x.

220x = \frac{110}{100}*A where A is last month's revenue

A = \frac{220x*100 }{110} = 200x

New price = \frac{105}{100}x

New revenue by raising price = 200* \frac{105}{100}x = 210x

Difference = 210x - 200x = 10x

Percentage = \frac{10x}{210x}*100 = \frac{100}{21}

Answer is C.
Manager
Manager
avatar
Status: Last few days....Have pressed the throttle
Joined: 20 Jun 2010
Posts: 73
WE 1: 6 years - Consulting
Followers: 3

Kudos [?]: 21 [0], given: 27

Re: If the circus were to sell all of its 220 tickets for this [#permalink] New post 11 Aug 2010, 22:46
This month revenue = 220*x (x BE THE PRICE FOR 1 TICKET)

Last months revenue can be calculated as 220x / 1.10 = 200x
Now consider the next statement - > if the price of ticket is hiked by 5% the new price is 1.05 x.
So the new revenue when only 200 tickets are sold = 200 * 1.05x = 210x.

We need to find the percentage difference ; so we have (new-old/new*100) 210x-200x/210x*100 = 100/21 - Ans C
_________________

Consider giving Kudos if my post helps in some way

1 KUDOS received
Manager
Manager
avatar
Joined: 22 Jun 2010
Posts: 57
Followers: 1

Kudos [?]: 6 [1] , given: 10

Re: If the circus were to sell all of its 220 tickets for this [#permalink] New post 12 Aug 2010, 06:19
1
This post received
KUDOS
bogos wrote:
If the circus were to sell all of its 220 tickets for this month's performance at its usual price, the revenue from sales would be 10% greater than that collected last month. If the circus raised the ticket price by 5% and sold only 200 tickets as a result, what percent less would last month's revenue be compared to this month's revenue?

2
5
100/21
110/20
9/4


Good solutions so far, but seriously... I personally find them much too time consuming (I hate writing down fractions and whenever I can prevent working with unkowns I do... --> lazy ;))

So my simple and fast approach:

1st: Let this month's ticket price = 1
2nd: Calculate this month's revenue = 220 x 1 = 220
3rd: This month is 10% more than last month, hence last month revenue was 200
4th: Increase the ticket price 5% to 1.05
5th: Calculate new revenue with increased price: 1.05x200 = 210
6th: Compare 210 to 200 --> 210 is 5% more than 200, so locially, 200 is some number a little less than 5% smaller than 210 --> only solution: C

Cheers,
André
Re: If the circus were to sell all of its 220 tickets for this   [#permalink] 12 Aug 2010, 06:19
    Similar topics Author Replies Last post
Similar
Topics:
2 Experts publish their posts in the topic A circus earned $150,000 in ticket revenue by selling 1,800 jlgdr 5 18 Sep 2013, 15:45
1 Experts publish their posts in the topic If the circus were to sell all of its 220 tickets for this manalq8 12 23 Jan 2012, 13:33
If an organization were to sell n tickets for a theater gmatcrook 3 18 Jun 2008, 11:59
If an organization were to sell n tickets for a theater el1981 2 01 May 2008, 18:07
4 Experts publish their posts in the topic If the circus were to sell all of its 220 tickets for this GK_Gmat 13 07 Jan 2008, 08:20
Display posts from previous: Sort by

If the circus were to sell all of its 220 tickets for this

  Question banks Downloads My Bookmarks Reviews Important topics  


GMAT Club MBA Forum Home| About| Privacy Policy| Terms and Conditions| GMAT Club Rules| Contact| Sitemap

Powered by phpBB © phpBB Group and phpBB SEO

Kindly note that the GMAT® test is a registered trademark of the Graduate Management Admission Council®, and this site has neither been reviewed nor endorsed by GMAC®.