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A circus earned $150,000 in ticket revenue by selling 1,800
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18 Sep 2013, 15:45
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88% (00:54) correct 13% (05:05) wrong based on 12 sessions
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A circus earned $150,000 in ticket revenue by selling 1,800 VIP and Standard tickets. They sold 25% more standard tickets than VIP tickets. If the revenue from Standard tickets represents a third of the total ticket revenue, what is the price of a VIP ticket?



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Re: A circus earned $150,000 in ticket revenue by selling 1,800
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18 Sep 2013, 15:52
jlgdr wrote: A circus earned $150,000 in ticket revenue by selling 1,800 VIP and Standard tickets. They sold 25% more standard tickets than VIP tickets. If the revenue from Standard tickets represents a third of the total ticket revenue, what is the price of a VIP ticket? V + 1.25V = 1,800 > V = 800. The revenue from VIP tickets = 2/3*$150,000 = $100,000. The price of a VIP ticket $100,000/800.
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Re: A circus earned $150,000 in ticket revenue by selling 1,800
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18 Sep 2013, 15:58
jlgdr wrote: A circus earned $150,000 in ticket revenue by selling 1,800 VIP and Standard tickets. They sold 25% more standard tickets than VIP tickets. If the revenue from Standard tickets represents a third of the total ticket revenue, what is the price of a VIP ticket? Dear jlgdr, I'm also happy to help with this problem. First, let's tackle ticket numbers, and ignore the prices. V = # of VIP tickets S = # of standard tickets. "They sold 25% more standard tickets than VIP tickets." This means: S = 1.25T Here, I am using a multiplier to represent the percent increase. See: http://magoosh.com/gmat/2012/understand ... thegmat/S = 1.25T = (5/4)*T T = (4/5)*S S + T = 1800 S + (4/5)*S = 1800 (9/5)*S = 1800 (1/5)*S = 200 S = 1000 V = 800 So, a thousand standard tickets were sold. Put that piece of info on hold for a moment. Now, the financial info. " A circus earned $150,000 in ticket revenue .... the revenue from Standard tickets represents a third of the total ticket revenue." One third of $150,000 is $50,000. That's the revenue from standard tickets only. Therefore, revenue from VIP tickets is $100,000. We sold 800 VIP tickets for $100,000, so each one must have cost 100,000/800 = 1000/8 = 125. VIP tickets cost $125. FWIW, standard tickets cost $50. Does all this make sense? Mike
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Re: A circus earned $150,000 in ticket revenue by selling 1,800
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21 Sep 2013, 07:43
mikemcgarry wrote: jlgdr wrote: A circus earned $150,000 in ticket revenue by selling 1,800 VIP and Standard tickets. They sold 25% more standard tickets than VIP tickets. If the revenue from Standard tickets represents a third of the total ticket revenue, what is the price of a VIP ticket? Dear jlgdr, I'm also happy to help with this problem. First, let's tackle ticket numbers, and ignore the prices. V = # of VIP tickets S = # of standard tickets. "They sold 25% more standard tickets than VIP tickets." This means: S = 1.25T Here, I am using a multiplier to represent the percent increase. See: http://magoosh.com/gmat/2012/understand ... thegmat/S = 1.25T = (5/4)*T T = (4/5)*S S + T = 1800 S + (4/5)*S = 1800 (9/5)*S = 1800 (1/5)*S = 200 S = 1000 V = 800 So, a thousand standard tickets were sold. Put that piece of info on hold for a moment. Now, the financial info. " A circus earned $150,000 in ticket revenue .... the revenue from Standard tickets represents a third of the total ticket revenue." One third of $150,000 is $50,000. That's the revenue from standard tickets only. Therefore, revenue from VIP tickets is $100,000. We sold 800 VIP tickets for $100,000, so each one must have cost 100,000/800 = 1000/8 = 125. VIP tickets cost $125. FWIW, standard tickets cost $50. Does all this make sense? Mike Makes perfect sense! Thanks Mike!



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Re: A circus earned $150,000 in ticket revenue by selling 1,800
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25 Jan 2014, 03:33
The question says They sold 25% more Standard tickets than V.I.P. tickets.
Does this not mean,
Total No. of Standard tickets sold = (Total No. of VIP tickets sold) + 0.25(Total No. of VIP tickets sold)
But your solutions show it as Total No. of Standard tickets sold = 0.25(Total No. of VIP tickets sold)
In other problem I was working on, it said something like  "Mary salary is $100 and Mercy's is 25% more than Mary's salary." and I translated it to:
Mercy's salary = 100 + 0.25(100) = 125
What I am missing?



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Posts: 53066

Re: A circus earned $150,000 in ticket revenue by selling 1,800
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26 Jan 2014, 05:12
flower07 wrote: A circus earned $150,000 in ticket revenue by selling 1,800 VIP and Standard tickets. They sold 25% more standard tickets than VIP tickets. If the revenue from Standard tickets represents a third of the total ticket revenue, what is the price of a VIP ticket?
The question says They sold 25% more Standard tickets than V.I.P. tickets.
Does this not mean,
Total No. of Standard tickets sold = (Total No. of VIP tickets sold) + 0.25(Total No. of VIP tickets sold)
But your solutions show it as Total No. of Standard tickets sold = 0.25(Total No. of VIP tickets sold)
In other problem I was working on, it said something like  "Mary salary is $100 and Mercy's is 25% more than Mary's salary." and I translated it to:
Mercy's salary = 100 + 0.25(100) = 125
What I am missing? Which solution are you referring to? They sold 25% more standard tickets than VIP tickets > {Standard} = 1.25*{VIP}.
_________________
New to the Math Forum? Please read this: Ultimate GMAT Quantitative Megathread  All You Need for Quant  PLEASE READ AND FOLLOW: 12 Rules for Posting!!! Resources: GMAT Math Book  Triangles  Polygons  Coordinate Geometry  Factorials  Circles  Number Theory  Remainders; 8. Overlapping Sets  PDF of Math Book; 10. Remainders  GMAT Prep Software Analysis  SEVEN SAMURAI OF 2012 (BEST DISCUSSIONS)  Tricky questions from previous years.
Collection of Questions: PS: 1. Tough and Tricky questions; 2. Hard questions; 3. Hard questions part 2; 4. Standard deviation; 5. Tough Problem Solving Questions With Solutions; 6. Probability and Combinations Questions With Solutions; 7 Tough and tricky exponents and roots questions; 8 12 Easy Pieces (or not?); 9 Bakers' Dozen; 10 Algebra set. ,11 Mixed Questions, 12 Fresh Meat DS: 1. DS tough questions; 2. DS tough questions part 2; 3. DS tough questions part 3; 4. DS Standard deviation; 5. Inequalities; 6. 700+ GMAT Data Sufficiency Questions With Explanations; 7 Tough and tricky exponents and roots questions; 8 The Discreet Charm of the DS; 9 Devil's Dozen!!!; 10 Number Properties set., 11 New DS set.
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Re: A circus earned $150,000 in ticket revenue by selling 1,800
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08 Oct 2018, 21:23
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Re: A circus earned $150,000 in ticket revenue by selling 1,800
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